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1320 - 1338 E Florence Boulevard - Casa Grande Shopping Center - Casa Grande Shopping Center, Casa Grande, AZ

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1320 - 1338 E Florence Boulevard - Casa Grande Shopping Center - Casa Grande Shopping Center

Florence Bl & Colorado Bl
Casa Grande, AZ 85122-5302 - Outlying Pinal County Ret Submarket


Property Type:Retail Sub Type:Storefront Retail/Office Status:Existing , Renov 2003 Year Built:1981
Building Size:94,497 SF Land Area:6.26 AC (272,686 SF)
For Sale Price:$13,434,000 Price/SF:$142.16
Cap Rate:7.50 %
Parking:Free Surface spaces are available; Ratio of .69/1,000 SF Anchor Tenants:Big Lots
Features:Dedicated Turn Lane, Pylon Sign, Signage



Sale Notes:
CBRE Phoenix Retail Investment Properties has been retained as the exclusive representative to offer qualified investors the opportunity to purchase Casa Grande Shopping Center (the Property ), a recently remodeled ±94,497 square foot community shopping center located in Casa Grande, Arizona. Spanning 7.40 acres at the northeast corner of Florence Boulevard and Colorado Street, Casa Grande Shopping Center is 97% leased to a dynamic mix of national and local tenants, including: Big Lots, OfficeMax, Big 5 Sporting Goods, Pet Club, Western Dental, Loan Max, Hertz and Jackson Hewitt, as well as a host of local retailers. Not included in the offering but providing an additional draw to the Property are: Dollar Tree, Mor Furniture for Less (opened September 2016) and Dunkin' Donuts (under construction). Big Lots and OfficeMax recently relocated to the Property, and between the two, occupy over 50% of the GLA. Developed in 1982 and completely renovated in 2013, the Property offers an investor a stable income stream from leading credit and national retailers with limited near term rollover at only $142/SF, a fraction of replace of replacement costs, and at an attractive 7.50% cap rate.

https://www.cbredealflow.com/handler/landing.aspx?pv=G_mOD-psMsy73Absl5f4p0NS1l-d03DcwA33eZ0C-4ukec3PVsq1-kw7N0m9EoJYBO-pl0LGUX-g96Y2RVJ5yg

CBRE
Andrew Fosberg
(602) 735-1723

Dylan Brown
(602) 735-1714




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