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777 E Baseline Road - Lakes Towne Center - Low's Ground Lease, Tempe, AZ

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DetailMap
777 E Baseline Road - Lakes Towne Center - Low's Ground Lease

Tempe, AZ 85283 - Tempe Submarket


Property Type:Land Parcel Size:10.38 Acres
Zoning:C-C
For Sale Price:$25,228,000 Price/Acre:$2,430,303 Price/SF:$55.79

Topography:Level
Proposed Use:Retail

On-Site Improv:Asphalt paved lot



Sale Notes:
Lowe's is positioned on a 10.3 acre parcel at the signalized hard corner of South Rural Road and East Baseline Road, visible to 197,000 cars per day. The property is ideally situated in the densely populated heart of the Phoenix MSA with with a current population of more than 341,000 in five miles. The average household income is well above the national average at $70,000/year in the surrounding three miles of the property. There are more than 566,000 daytime employees in a five mile radius.

Arizona State's Tempe campus is minutes from the property. ASU boasts an impressive student population and is the largest public university in the United States. Located just 20 minutes from downtown Phoenix, Lowe's is easily accessible from several surrounding communities due to its close proximity to U.S. 60 (197,000 cars per day) and Interstate-10 (204,200 cas per day.)
Located just 10 minutes east of downtown Phoenix, Tempe exudes its own personality and the youthful spirit of a college town. Home to Arizona State University, the largest public university in the United States, Tempe has a vibrant downtown that' s active day and night. Visitors will find locally-owned eateries and microbreweries, annual festivals, arts and cultural events. And plenty of opportunities to enjoy over 300 days of sunshine a year on a bike, hiking trail or stand-up paddleboard.

While enjoying dynamic growth, the city has maintained its unique personality and style through a careful and masterful blending of the new with the old. Respecting its heritage and energetically planning for the future, Tempe is a wonderful mix of history and modern urban amenities.

Highlights
Rare Single-Tenant Absolute Triple-Net Corporate Ground Lease with Lowe' s (NYSE: LOW)
Corporate Guarantee from Lowe' s Companies, Inc.
Visible to 51,000 Cars per day from the Hard Corner of S. Rural Rd and E. Baseline Rd
Less than One-Mile South of U.S. 60 (197,000 Cars per Day), a Significant Part of the Local Commuter Freeway System
Three Miles from Arizona State University' s Tempe Campus (50,000 Students) - ASU is the Largest Public University in the U.S.
Excellent Infill Location in the Heart of the Phoenix MSA - Over 341,000 Residents within a 5-Mile Radius and 144,500 Residents in a 3-Mile Radius

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

Chris Lind
(602) 687-6780

Mark Ruble
(602) 687-6766 x6766




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