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| PROPERTY
LOCATION |
Arcadia Towne Center
4730-4750 East Indian School Road
Phoenix, Arizona
85018
map it
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| PROPERTY SUMMARY |
Type:
Retail
Class:
A
Price:
Contact Broker
Auction
Measurement/Yardstick:
69,503
Sq Ft
Number of Buildings:
4
Number of Floors:
2
Occupancy:
93%
Year Built:
1966
Year Renovated:
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| PROPERTY
DESCRIPTION |
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Subject is a 69,503 sf Safeway shadow-anchored center in Phoenix (5 miles NE of CBD). Subject enjoys a hard corner location, across from Arcadia High School. Asset was built in phases: 1966, 1998 and 2006, situated on a 4.73-acre site. Safeway is on a separate parcel (reported sales of $795/sf). Major tenants include CVS Pharmacy (ground lease) and Tutor Time. There are 202 parking spaces for a ratio of 2.9/1,000 sf (but the reciprocal parking controlled by Safeway means that the figure is 4/1,000 sf). Strengths include (1) location, (2) strong demos and (3) top tier grocer. Weaknesses include (1) second-story component and (2) above market rent for Tutor Time.
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For more information contact
Darren Tappen
Kidder Mathews, Inc.
darren.tappen@kidder.com
Tel:
602-513-5112
http://www.kidder.com
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Any information that may be provided by LNR Partners, LLC. under this “General
Property Information” is for informational purposes only and is subject to
change at any time without notice at the sole and absolute discretion of LNR
Partners, LLC. This is not to be construed as an offer, commitment or promise
of any kind by LNR Partners, LLC. Please contact the appropriate individual
referred to above for more information on this property. The information
provided herein has been obtained from third party sources. While LNR Partners,
LLC. has no reason or basis to doubt the accuracy of such information, LNR
Partners, LLC. makes no guarantee, covenant, warranty or representation about
its accuracy and disclaims any liability with respect thereto. It is your
responsibility to confirm that this information is accurate and complete.
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