Desert Square Retail FOR SALE


Tucson, AZ - Dietz
$7,860,000 USD
949-271-1170
, Tucson, AZ for Sale
$7,860,000 USD
Retail - FOR SALE
1/5
null | 7% Cap Rate

Desert Square
Tucson, AZ
Dietz


HIGHLIGHTS

  • Value-creation/ repositioning opportunity through lease-up of the approx. 35,468 square feet of vacant space; approx. 39% of total GLA.
  • Significantly below replacement cost; also providing an attractive land acquisition cost per square foot.
  • Approximately 59% of the in-place rental revenue stream has been in occupancy on/before 2018.
  • 80% of the total square footage, representing 74% of the in-place rental revenue stream, is comprised of national and regional tenants.
  • Two freestanding pad buildings are inclusive in the collateral.

OVERVIEW

Desert Square is a 91,297 square foot neighborhood shopping center located in a densely populated submarket of Tucson, AZ that provides an investor with a signifi¬cant value-creation/repositioning opportunity. Situated at the signalized intersection of E. Golf Links Rd. and S. Kolb Rd., the subject property benefits from its positioning along a dominant retail node/intersection that features national grocery operators Fry’s Food & Drug and Walmart Neighborhood Market. Desert Square features an 80% national and regional tenant base, including best-in-class national anchor tenants Dollar Tree and AutoZone. Additional national and regional tenants within the collateral include TitleMax, Eegee’s, and Famous Sam’s Restaurant. Desert Square provides an investor with a significant value-creation opportunity with the ability to implement a leasing and repositioning strategy, with approximately 35,468 square feet of vacant space in the subject property. This represents approximately 39% of the GLA and includes three vacant anchor/junior anchor suites com¬prising 9,700 SF, 15,612 SF, and 7,500 SF. Broker of Record: REZA Investments, Inc. - Aaron Bettencourt AZ Lic. #BR624919000

ASK ABOUT THIS PROPERTY

Aaron BettencourtREZA Investment Group, Inc.More Info
949-271-1170

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Aaron BettencourtREZA Investment Group, Inc.More Info
949-271-1170

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.