2820 E University Dr
Mesa, AZ 85213
Loan Secured by Coconut Grove Shopping Center · Retail Property For Sale

Excellent Location - Well-located in an established commercial corridor with good frontage along University Drive and Lindsay Road. Value-Add Opportunity - Value-add opportunity through lease up of vacant space (39% NRA), with four available units as currently configured ranging in size from ±1,200 SF to ±6,765 SF, or potentially up to ±10,850 SF by combining adjacent available suites. Flexible Zoning - Limited Commercial District zoning permits an array of uses, including without limitation, indoor retail, medical or other professional office, restaurant, entertainment and service-oriented businesses that serve the surrounding residential area, subject to any deed or other restrictive covenants. Strong Local Demographics -  Strong metro area with robust population growth arising from its well-educated workforce, friendly business environment and low-cost destination for relocation from California. Densely populated surrounding area (over 315,000 in 120,000 households within 5 miles) providing a significant pool of potential customers for tenants. Ease of Foreclosure - Arizona’s non-judicial foreclosure process provides an expeditious means to acquire title to the mortgaged property via foreclosure. Receiver Managed - The court-appointed receiver provides independent control and oversight of the mortgaged property and all property related activities and should enable a smooth management transition upon conveyance of the mortgaged property.