7710 W Lower Buckeye Rd
Phoenix, AZ 85043
Estrella Town Center · Retail Property For Sale

Estrella Town Center is a multi-tenant retail strip center built in 2006. The property is 100% occupied with NNN leases and a good tenant mix. The frontage is on Lower Buckeye Road, a busy arterial street, just a few miles south of the I-10 Freeway. While Checksmart currently pays a high rent, the tenant has exercised multiple options with no negotiation since they moved in in 2005. The reason is that this use has statutory regulation where it makes it very difficult to leave due to proximity laws. Anecdotally, these uses don’t want to lose a foothold of a location if it’s profitable. Further, Checksmart is a corporate lease from a company that has over 500 locations nationwide. The new gym was done at a very low rent, where the landlord intentionally only gave options to extend at market rate, providing long term upside a buyer. “LTP” aka Gama Enterprises Bar & Grill recently renewed for 3 years. Next door to the east, another shopping center recently sold to a new owner, whom is adding a big-box gym, a tire shop, with plans on future development to bring more energy to the already busy intersection with Wal-Mart. The corridors between 67th Avenue and 99th Avenue, south of the I-10 is metro-Phoenix's highest concentration of corporate distribution facilities, including over a million square feet of Amazon facilities, Target, Winco Foods, Costco, Fry's and more. The single family homes nearby (and under construction) feed this high employment area.