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1611 - 1675 Hilltop Drive - Hilltop Center - 1691 Hilltop Drive, Redding, CA

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DetailMap
1611 - 1675 Hilltop Drive - Hilltop Center - 1691 Hilltop Drive

Hwy 44 @Hilltop Dr & Chum Creek Rd
Redding, CA 96002-0254

(2.6 MB)

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1980
Building Size:68,908 SF Land Area:6.57 AC (286,346 SF)
% Leased:
For Sale Price:$11,100,000 Price/SF:$161.08
Cap Rate:-
Smallest Space:1,050 SF Largest Space:5,700 SF Total Space Avail:13,960 SF Rent/SF/Yr:
$18.00 - $21.60
Parking:Free Surface spaces are available; Ratio of 4.1/1,000 SF Anchor Tenants:PETCO


Space Available:
Floor
SF Avail
Rent
Occupancy
Lease Term
Space Use
 1st
2,310 SF
$18.00/SF/Yr
Vacant
3-5 yrs
Retail
 1st
2,590 SF
$18.00/SF/Yr
Vacant
3-5 yrs
Retail
 1st
1,120 SF
$21.60/SF/Yr
Vacant
3-5 yrs
Retail
 1st
1,190 SF
$21.60/SF/Yr
Vacant
3-5 yrs
Retail
 1st
1,050 SF
$21.60/SF/Yr
Vacant
3-5 yrs
Retail
 1st
5,700 SF
$18.00/SF/Yr
Vacant
3-5 yrs
Retail
 
4051724
6566739
5644709
8802158
6571085
11065809
Marketing Flyer Marketing Flyer  
Space Notes Space Notes  


Floor
SF Avail
Rent/SF/Yr
Occupancy
Lease Term
Space Use
1st
2,310 SF
$18.00/SF/Yr
Vacant
3-5 yrs
Retail
1st
2,590 SF
$18.00/SF/Yr
Vacant
3-5 yrs
Retail
1st
1,120 SF
$21.60/SF/Yr
Vacant
3-5 yrs
Retail
1st
1,190 SF
$21.60/SF/Yr
Vacant
3-5 yrs
Retail
1st
1,050 SF
$21.60/SF/Yr
Vacant
3-5 yrs
Retail
1st
5,700 SF
$18.00/SF/Yr
Vacant
3-5 yrs
Retail
Hilltop Shopping Center is located at Hilltop Dr and Highway 44, consisting of 4 parcels. It is anchored by Petco and Gottschalks. Gottschalks SF not counted in the total GLA, but is included in the GBA.

Sale Notes:
Diligence: 60 days
Closing: 15 days
Deposit: $200,000

HIGHLIGHTS

Incredible location at the heart of the trade area (I-5 & Hwy 44)
Largest trade area within 150 mile radius
7.6% cap rate on “in place” income with only 80.4% occupancy level
Stabilized cap rate (at 95% occupancy rate) is 9.5%
20.14% Leveraged IRR
Dynamic tenant mix (majors, restaurants, medical, fitness)
Multiple traffic drivers generate over 150,000 cars per day
Strong, local, responsive, organized property management


The Mt. Shasta Mall serves as the epicenter of the retail trade area, with over 2,000,000 SF of regional tenants, national brand restaurants and theaters within a 1 mile radius.

Market Overview
Hilltop Towne Center has been renamed from the former Mervyn’s Plaza. It is comprised of ±224,000 SF of Gross Leasable Area, spread over 20.9 acres of land and divided by Presidio St. Planet Fitness and Institute of Technology are on the south side of Presidio and have split the former Mervyn’s building (not a part of this offering prospectus). The remainder of the project comprises ±161,278 SF of GLA, inclusive of the two anchor spaces. The GLA being offered in this Investment Prospectus comprises the non-anchor spaces and measures 68,908± SF.

The shopping center was first developed in the mid 1980’s and has always had a reputation for supporting the finest names in the retail industry. Over the years, the center has been home to Albertson’s, Thrifty Drug, Miller’s Outpost, Egghead Software, Clothestime, Gottschalk’s, Wherehouse Entertainment and more.

Today, Hilltop Towne Center continues this tradition with a vibrant tenant line up that perfectly blends retail, QSR, fit- ness, medical, dental and full service dining. With neighboring properties supporting the retail, restaurant, lodging and professional business sector, Hilltop Towne Center is well positioned to provide convenience and variety to the community.

With a strategic location immediately adjacent to the I-5 & Hwy 44/299 interchanges, Hilltop Towne Center is poised to serve the needs of a trade area population approaching 300,000 people in 5 counties.

Northstate Commercial Partners
Ken Miller
(530) 768-1650

  
Ten-X, LLC
Michael Zacharski
(949) 790-6427


Northstate Commercial Partners
Ken Miller
(530) 768-1650



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