walgreens shadow anchored multi-tenant investment · the shops are located within the high-end...
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W A L G R E E N S S H A D O W A N C H O R E DM u lt i -T e n a n t I n v e s t m e n tNWC El Mirage Rd & Vistancia Blvd | Peoria, AZ
ANIMALHOSPITAL
Neighborhood BeautyBoutiqueVISTA
NCIA
BLVD
EL MIRAGE RDHigher Education
Planned
Future High SchoolPlanned
Table of Contents
INVESTMENT SUMMARYProperty Summary
PROPERTY OVERVIEWSite PlanRent RollCash Flow Projections
AREA OVERVIEWProperty PhotosAerialsDemographics
CONTACT
4
5
8
13
3131 East Camelback Road, Suite 340Phoenix, Arizona 85016P 602-957-9800 F 602-957-0889www.pcainvestmentsales.com
Exclusively Listed by
leasing contacts
Chad TiedemanSenior Managing Director(602) [email protected]
Torrey BriegelAssociate Vice President(602) [email protected]
Lance UmbleAssociate Vice President(602) [email protected]
Higher Education Planned
Future High SchoolPlanned
4 | The Shops at Vistancia
Property Summary Investment Highlights
Location highlights
OFFERING PRICE $5,096,000
CAP RATE 8.00%
NOI ±$407,677
TENANCY 8
PARCEL 503-99-988
OCCUPANCY 100%
LAND AREA ±2.63 Acres
ADDRESS
YEAR BUILT 2008
BUILDING GLA ±22,628 SF
28570 & 28620 N El Mirage RdPeoria, AZ 85383
Strong rental growth and long-term upside with 50% of the tenants having FMV options
Shadow anchored by Walgreens, the only quick service pharmacy within a 5-mile radius serving northern Peoria and the only pharmacy northwest of Loop 303
Excellent internet resistant tenants with staggered leased terms provides security to a future investor
High profile outparcel located at the gateway of a top ranked community
The shops are located within the high-end Vistancia master-planned community, including Trilogy Golf Club – a pristine, 5-Star Award Winning Arizona public golf course and community
RCLCO has ranked Vistancia #15 top selling master-planned community in the Nation for 2016
The property is surrounded by the several rapidly growing communities of Vistancia, with over 17,000 housing units, providing strong customer potential
Affluent customer base with average household income over $99,000 within a 5-mile radius
Strong growth location that has grown 292% in the last 5 years within a 5-mile radiuss
The Shops at Vistancia | 5
Site PlanCLICK HERE FORPROPERTY VIDEO
N
±1,568 SF
±1,765 SF
±1,350 SF
±1,437 SF
ANIMALHOSPITAL
Neighborhood Beauty Boutique
6 | The Shops at Vistancia
Rent RollTENANT SF LEASE
CURRENT ANNUAL
BASE RENT
ANNUAL RENT PER
SF
ANNUAL ESTIMATED
NNN’S
INCREASES ON
INCREASESTO / BY
RENEWAL OPTIONS
Big Dreams Preschool 4,697 Jul 2011 to Jul 2019 $70,455.00 $15.00 $27,101.69 Aug-18 $15.50 One, Five Yr Option
At a Rate to be Negotiated
Neighborhood Beauty Boutique
2,565 Proj. Sep 2017 to Sep 2022 $41,040.00 $16.00 $15,697.80Annually
(Next Sep 2018)2%
One, Five Yr OptionAt FMV
Animal Hospital 3,031 Sep 2017 to Sep 2022 $42,434.04 $14.00 $18,549.72Annually
(Next Oct 18)$1 PSF
Two, Five Yr OptionsWith 3% Annual Increases
Zona Communications 2,141 Proj. Aug 2017 to Aug 2019 $38,538.00 $18.00 $13,102.92 Aug-18 $18.54 One, Five Yr Option
At FMV
Vistancia Land Holdings 1,905 Dec 2010 to Feb 2020 $35,242.56 $18.50 $11,029.95Mar-18Mar-19
$19.06$19.63
One, Three Yr OptionWith 3% Annual Increases
1st Computer Solutions 975 Feb 2011 to Jul 2020 $18,115.50 $18.58 $5,967.00Aug-18 Aug-19
$19.14 $19.71
One, Five Yr OptionAt a Rate to be Negotiated
Dental Care at Vistancia 2,175 Feb 2009 to May 2019 $86,322.49 $39.69 $13,311.00 Jun-18 $41.28Two, Five Yr Options
With 4% Annual Increases
Shea Homes 5,139 Aug 2014 to Jul 2018 $53,959.50 $10.50 $31,450.68One, Three Yr Option
With $0.50 Annual Increases
Walgreens (NOT A PART) $14,400.00
TOTAL SF 22,628
OCCUPANCY 100%
BLD
G A
BLD
G B
The Shops at Vistancia | 7
POTENTIAL GROSS REVENUE
Base Rental Revenue (2018) $392,806
EXPENSE REIMBURSEMENT REVENUE
CAM $76,892
Insurance $5,423
Taxes $52,772
Admin Fee $15,951
Total Expense Reimbursement Revenue $151,038
Total Gross Revenue $543,844
OPERATING EXPENSES
CAM $77,972
Insurance $5,423
TaxesS $52,772
Total Operating Expenses $136,167
Net Operating Income $407,677
Cash flow projections
NOT A PART
10 | The Shops at Vistancia
ANIMALHOSPITAL
Neighborhood Beauty Boutique
VISTANCIA BLVD
EL MIRAGE RD
The Shops at Vistancia | 11
LAKE
PLE
ASA
NT
PKW
Y
ANIMALHOSPITAL
Neighborhood Beauty Boutique
VISTANCIA BLVD
HAPPY VALLEY RD
RANCH CABRILLO2,300 D/U
RANCH MERCADO5,000 D/U
COLDWATER RANCH590 D/U
EL M
IRAGE
RD
12 | The Shops at Vistancia
Demographics
POPULATION GROWTH 5-MILE
2000
2010
2016
2021
12,448
39,043
48,837
55,180
HOUSEHOLD GROWTH 5-MILE
HOUSEHOLDS BY INCOME 5-MILE
2000
2010
2016
2021
5,742
15,115
18,186
20,236
AVERAGE HOUSEHOLD INCOME 2016
BUSINESSES / EMPLOYEES 5-MILE
Businesses
Employees
677
5,652
1-Mile
3-Mile
5-Mile
$110,863
$110,925
$99,347
<$15,000 4.5%
$15,000-$24,999 5.2%
$25,000-$34,999 7.2%
$35,000-$49,999 10.9%
$50,000-$74,999 17.4%
$75,000-$99,999 15.8%
$100,000-$149,999 23.0%
$150,000-$199,999 8.0%
$200,000+ 8.0%
POPULATION HAS GROWN
292%IN THE LAST 16 YEARS WITHIN A
5-MILE RADIUS
The Shops at Vistancia | 13
This Confidential Offering Memorandum has been prepared by Phoenix Commercial Advisors (PCA) for use by a limited number of parties whose sole purpose is to evaluate the possible purchase of the subject property. This Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.
The information contained in this Memorandum has been obtained from sources we believe to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty, or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used, are for example only, and do not represent the current or future performance of the property. The value of this transaction to you depends on taxes and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine, to your satisfaction, the suitability of the property for your needs. All potential buyers must take appropriate measures to verify all of the information set forth herein. Both Phoenix Commercial Advisors (PCA) and the Owner disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. The contained information is subject to change at any time and without notice. The recipient of the Memorandum shall not look to the Owner or Phoenix Commercial Advisors (PCA) for the accuracy or completeness of this Memorandum.
A prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the property without reliance on this Memorandum or any other Confidential Information, written or verbal, from the Broker or the Seller. The Owner expressly reserves the right, at its sole discretion, to reject any offer to purchase the property or to terminate any negotiations with any party, at any time, with or without written notice. Only a fully-executed Real Estate Purchase Agreement, approved by Seller, shall bind the property. Each prospective purchaser and/or broker proceeds at its own risk.
All property showings are by appointment only.
Confidentiality StatementChad TiedemanSenior Managing Director(602) [email protected]
Exclusively Listed by
3131 East Camelback Road, Suite 340Phoenix, Arizona 85016P 602-957-9800 F 602-957-0889www.pcainvestmentsales.com
Chad TiedemanSenior Managing Director
(602) [email protected]
leasing contactsTorrey Briegel
Associate Vice President(602) 734-7219
Lance UmbleAssociate Vice President
(602) [email protected]