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5130 - 5290 Arlington Avenue - Heritage Plaza - Heritage Plaza, Riverside, CA

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5130 - 5290 Arlington Avenue - Heritage Plaza - Heritage Plaza

SWC of Arlington Ave. & Madison St.
Riverside, CA 92504-2603 - Riverside Submarket

(1.1 MB)

Property Type:Retail Sub Type:- Status:Existing Year Built:1994
Building Size:119,048 SF Land Area:10.09 AC (439,520 SF)
For Sale Price:$32,750,000 Price/SF:$275.10
Cap Rate:6.56 %
Parking:Free Surface spaces are available; Ratio of 4.64/1,000 SF
Features:Signage, Signalized Intersection, Kiosk Cart, Center Temp Tenant, Center Mixed Use



Sale Notes:
*Smart & Final Anchored Center Operating at 86.3% Occupancy: Immediate Upside Achievable through Lease-Up
*Traditional Shopping Center Layout: Offering Consists of Grocery Anchor, Shop Space, and Two Drive Through Pad Buildings (Starbucks and Del Taco)
*Majority of Tenants on Triple-Net Leases with Scheduled Rent Increases and Staggered Lease Expirations: Excellent Built-In Cash Flow Growth
*Complimentary Tenant Mix Includes National Tenants Smart & Final, Starbucks, Del Taco, UPS, Subway, Jackson Hewitt, Compass Bank, Yum Yum Donuts, Verizon Wireless, and More
*Established Tenants Over 79.4% of Occupied GLA Businesses Have Occupied the Center Since 2007 or Earlier
*Strong Retail Location with Solid Market Fundamentals

*Heritage Plaza Benefits from Over 600' of Frontage Along Arlington Ave (28,300+ Vehicles per Day)
*Property is Adjacent to Arlington Square: Complimentary Retail Center with Big Lots, Ross, Chase Bank, Dollar Tree, and More
*Multiple Ingress/Egress Points with Easily Accessible Parking Field In Between Major North/South Arteries Streeter Ave. (18,600 VPD) and Madison St. (14,006 VPD)
*Strong Demographics: Over 121,000 People with an Average Household Income Exceeding $67,000 in a 3-Mile Radius


CBRE
Alan Krueger
(909) 418-2062

  
CBRE
Alex Kozakov
(213) 613-3031

Patrick W Wade
(213) 613-3071




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