3530 Eastdale Plz
Montgomery, AL 36117
Eastdale Plaza · Retail Property For Sale

Eastdale Plaza is a ±55,340 neighborhood retail center located at 3508 - 3536 Eastdale Circle in Montgomery, Alabama. This Property presents investors an opportunity to acquire a well-positioned asset anchored by CSL Plasma, Planet Fitness, and BBVA Compass Bank with value-add through lease up of the available units at long term market rates. Eastdale Plaza is comprised of 1 single story building with 10 retail units on a ±8 AC parcel. Built in 1977, and renovated in 2000, this Property is conveniently located on a main area thoroughfare, Atlanta Highway, and offers excellent ingress/egress with multiple access points. The Property offers abundant surface parking spaces (6.60 per 1,000 SF) and a large pylon sign identifies the property and tenants along Atlanta Hwy. The retail units at the Property are fit for a variety of different retail end users and range in size from ±600 to ±19,120 SF. The Property is currently ±89% occupied by a mix of national/local tenants including CSL Plasma, Planet Fitness, BBVA Compass Bank, ZQ Wireless, Glam Girlz Boutique, Precision Cuts, and Christ Church. The anchor tenants at Eastdale Plaza account for 70% of the GLA and have operating history at the center with staggered lease expirations and CSL Plasma has over 10 years remaining on their primary lease term; Planet Fitness has recently renewed their lease for 10 years and is currently undergoing an expansion of their space; and BBVA Compass recently exercised a 5-year option. The Property offers the right-sized anchor-to-shop space ratio and with less than ±16,248 square feet of shop space, the property is well-proportioned to sustain high occupancy levels. There are currently 2 vacant units at the Property totaling ±6,243 SF (±11.28% of GLA) which offer significant value-add through immediate lease-up at market rates. Strategically located at the intersection of Interstate 65 and Interstate 85, Montgomery is the Capital of Alabama, the county seat of Montgomery County and the second largest city in the state. Montgomery is an established and stable middle-income community and is the primary city in the Montgomery MSA with a growing population of ±389,294 and a trade area population of more than ±650,000. Eastdale Plaza is located contiguous to Eastdale Mall and benefits from a regional and neighborhood location. The Property is located on a commercial thoroughfare and in 2018 has approximately ±111,845 individuals residing within a five-mile radius of the property and an average household income of ±$70,172. In 2018, the total specified consumer spending within a 5-mile radius of the Property accounts for ±$1,066,792,000 and there are ±7,158 businesses and ±75,892 employees. The Property is located near main area traffic drivers including Eastdale Mall, Faulkner University and Baptist Health Hospital and the tenants at the Property also benefit from a loyal customer base and surrounding businesses including JCPenny, Chuck E Cheese’s, Belk, Zales, Finish Line, and Chick-Fil-A), Red Lobster, Wendy’s, Arby’s, Advance Auto Parts, PepBoys, CitiTrands, McDonald’s, and Krystal to name a few. Eastdale Plaza offers investors the opportunity to purchase a nationally anchored neighborhood center with both stable income and upside potential through continued lease-up.