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

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DetailMap
1611 - 1675 Hilltop Drive - Hilltop Center

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

(2.6 MB)

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1985
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:7.60 %
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:
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
Assumable debt: $7,800,000±, 5.19%, due May 2024 (±7 years ). $5.4M± payoff .
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 Hilltop Towne Center is a regional shopping center comprising ±162,000 SF. It is anchored by several major tenants that generate traffic from a multitude of consumer pro-files. Sportsman's Warehouse draws the outdoors man. Petco, the pet lover. Planet Fitness and US Cryotherapy attract the health and fitness enthusiasts. Multiple restaurants along the Hilltop “Restaurant Row” (Logan’s, Applebee’s, CR Gibbs, Cattlemen's, and Marie Calendar’s) create a draw for the wider Shasta County consumer base. Hilltop Towne Center exploits this dynamic with Cicada Cantina, Taj Mahal Indian Cuisine, Tokyo Garden and Sweet Spot. Party City and Hallmark have turned the shopping center into the “go to” place for every occasion. Tuesday Morning and Goodwill create treasure hunt opportunities for the bargain shopper. Affordable Dentures, Access Dental and US Cryotherapy offer niche services in the personal care sector. Many of these retailers offer products and services that are not easily replicated by on line competition, ensuring long term income stability for the landlord.

The shopping center enjoys a unique positioning between Hilltop Dr. and Churn Creek Rd., Redding’s two most travelled commercial arterials. These two corridors generate a combined 47,800 cars per day. The center also enjoys an I-5 exit that channels vehicles directly off the interstate and into the center. I-5 traffic exceeds 70,000 cars per day. Pylon signage is easily visible from Hwy 44, generating 51,000 cars per day.

Redding is the center of a 5 county territory in Northern California and serves as the provider of medical, financial, shopping, entertainment and government services for a population in excess of 300,000 people.

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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