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2461 E Florence Boulevard, Casa Grande, AZ

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2461 E Florence Boulevard

Casa Grande, AZ 85194-5429 - Outlying Pinal County Ret Submarket

(1.6 MB)

Property Type:Retail Sub Type:- Status:Existing Year Built:-
Building Size:6,023 SF Land Area:-
For Sale Price:$2,180,000 Price/SF:$361.95
Cap Rate:5.22 %

Sale Notes:
The subject property is an approximate 6,023 SF multi-tenant building on +/- 1.17 acres of land. Mattress Firm has 9 years remaining on the absolute triple-net (NNN) lease. The lease provides for ten percent rental increases every five years and two, five year renewal options. The current asking rate for the endcap is mid to high $20's.
The subject property is visible to 27,000 cars per day from E. Florence Blvd. Mattress Firm Shops sits directly across from the Promenade at Casa Grande, a 909,000 SF regional shopping center and the main shopping destination in the area. Tenants in close proximity to the restaurant include Sam's Club, Harkins Theatres, Bed Bath & Beyond, Raising Cane's, Chase Bank, In-n-Out, Chick-fil-A, JCPenney, Dillard's and several more. Casa Grande has experienced continuous growth over the last decade due to its beneficial location between Phoenix and Tucson. The population is expected to increase by twenty-eight percent by 2020 within one-mile of the Shops.

Marcus & Millichap Inc
Jamie Medress
(602) 687-6778

Mark Ruble
(602) 687-6766 x6766

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