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Union Street Shops at Norterra E/NEC Norterra Pkwy & Happy Valley rd 10,437 SF 100% Leased Retail Building Phoenix, AZ 85085 $9,930,000 ($951.42/SF) 5.75% Cap Rate
Investment Highlights
- New construction with long-term leases to tenants with established presence in the market: CAVA, Shake Shack, First Watch and Tropical Smoothie Cafe
- Multi-tenant retail component of new mixed-use lifestyle development Union Street at Norterra
- Strong scheduled rental escalations throughout the initial lease terms and option periods
- 100% occupied retail building with four complementary tenants
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
10,437 SF
Year Built
2026
Price
$9,930,000
Price Per SF
$951.42
Cap Rate
5.75%
NOI
$570,951
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
2.07 AC
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- CAVA
- Retailer
-
99,999 SF
- -
- -
- First Watch
- Retailer
-
99,999 SF
- -
- -
- Shake Shack
- Retailer
-
99,999 SF
- -
- -
- Tropical Smoothie Cafe
- Retailer
-
99,999 SF
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| CAVA | Retailer | 99,999 SF | - | - | ||
| First Watch | Retailer | 99,999 SF | - | - | ||
| Shake Shack | Retailer | 99,999 SF | - | - | ||
| Tropical Smoothie Cafe | Retailer | 99,999 SF | - | - |
Nearby Major Retailers
1 of 2
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Union Street Shops at Norterra | E/NEC Norterra Pkwy & Happy Valley rd
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