5050 EAST UNIVERSITY DRIVE & 446 NORTH HIGLEY ROAD | MESA, AZ 85205 DEREK BUESCHER O: 480.689.4146 C: 480.213.2531 [email protected]ARI SPIRO O: 480.634.8596 C: 480.292.3697 [email protected]FOR MORE INFORMATION CONTACT: THE SHOPPES AT HIGLEY VILLAGE THE SHOPPES AT HIGLEY VILLAGE STABLE RETAIL INVESTMENT | 24,580 SF | 95% LEASED
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5050 EAST UNIVERSITY DRIVE & 446 NORTH HIGLEY ROAD | MESA, AZ 85205
THE SHOPPES AT HIGLEY VILLAGETHE SHOPPES AT HIGLEY VILLAGESTABLE RETAIL INVESTMENT | 24,580 SF | 95% LEASED
All materials and information received or derived from ORION Investment Real Estate its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.
Neither ORION Investment Real Estate its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. ORION Investment Real Estate will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. ORION Investment Real Estate makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. ORION Investment Real Estate does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by ORION Investment Real Estate in compliance with all applicable fair housing and equal opportunity laws.
ORION Investment Real Estate7328 East Stetson Drive | Scottsdale, AZ
www.orionprop.com
D ISCLA IMERD ISCLA IMER
SALE PRICE $5,935,000
PRICE/SF $241.46/SF
CAP RATE 6.6%
BUILDING SIZE 24,580 SF
OCCUPANCY 95%
PARCEL SIZE 3.60 Acres
YEAR BUILT 2005
ZONING C-2, Mesa
CROSS STREETS Higley Road & University Drive
TRAFFIC COUNT +/- 40,000 (Intersection)
The Shoppes at Higley Village is a Walmart Neighborhood Market (with Pharmacy and Drive-thru) anchored neighborhood center located in Mesa, Arizona. It is a stabilized multi-tenant center producing a steady income at a below market rate of $15.67/SF NNN. The center is currently 95% leased to a strong mix of tenants, specifically picked for this trade area. The current owner maintains the center to a high quality standard and takes pride in its appearance. A majority of the tenants are E-Commerce resistant, providing stability and strong income growth through scheduled rental increases.
• Walmart Neighborhood Market Shop Spaces
• Stabilized Investment, 95% Leased with Below Market Rents
THE SHOPPES ATHIGLEY VILLAGETHE SHOPPES ATHIGLEY VILLAGE
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MESA HIGHLIGHTS
• 3rd Largest City in Arizona after Phoenix and Tucson
• Two major airports and employment bases: Falcon Field and Phoenix Mesa Gateway Airport
• Access to three major freeways: Loop 101, Loop 202 (Red Mountain Freeway and the Santan Freeway, and State Rte. 60 (Superstition Freeway)
• Adjacent to other vibrant SE Valley communities: Tempe, Chandler, Gilbert and Queen Creek
• Home to 13 colleges including: ASU Polytechnic Campus, Mesa Community College (40,000+ Students Annually), East Valley Institute of Technology, A.T. Still University, Benedictine University and DeVry University
• In recent months, over 1,824,000 square feet of new employers are joining companies like MD Helicopters and Apple. In fact, Boeing will be shifting hundreds of jobs from Washington to Mesa in the next 2 years
• Mesa Downtown Core now has light rail and is redeveloping into a vibrant mixed-use corridor including the award-winning and popular Mesa Arts Center
• Master-planned community (by DMB), Eastmark, was named one of the Top 6 new communities in the country. Eastmark is located in far eastern Mesa close to the new Tech Corridor on Elliot Road. It leads the southeast valley of Maricopa County with new homes sales along with nearby Queen Creek
• Named Best Big City in the Southwest (Money Magazine 2016)
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TENANT PROFILESTENANT PROFILESLinda’s Hoosier CaféTenant since 2005. This Midwest Basketball-themed restaurant is a local “institution” and has been voted “Best Breakfast in Mesa.”
Great ClipsTenant since 2005. Great Clips is the world’s largest hair salon brand with more than 4300 salons across North America.
Cricket WirelessTenant since 2012. Cricket Wireless is a wholly-owned subsidiary of AT&T Inc. and provides wireless communication services across the United States.
Medical Super CenterTenant since 2014. A division of Medassure Inc., Arizona’s largest locally-owned provider of durable medical equipment as well as home medical equipment and supplies.
Bahama BucksTenant since 2013. A multi-state franchise company with over 100 locations specializing in shaved ice (over 90 proprietary flavors), smoothies and other frozen treats.
Mike’s BikesTenant since 2013. Mike’s Bikes has been providing service and sales in East Mesa for more than 15 years. Provides highest quality servicing and repairs by master bicycle mechanics, and sales of custom and pre-owned cycles. Has been voted “Best Bicycle Shop” in Mesa.
Marco’s PizzaTenant since 2016. A multi-state franchise company founded in 1978 specializing in pizza and Italian-American cuisine with more than 900 locations across 35 states and 4 countries.
Follow Your Heart Pet HospitalTenant since 2017. A comprehensive veterinary pet hospital run by skilled professionals with compassion, optimism, integrity, love, and an uncompromising desire to assist animals in need. Affiliate of 501(c)(3) organization Follow Your Heart Animal Rescue.
NAAM Yoga of ArizonaTenant since 2017. A beautiful yoga, meditation and healing center offering yoga classes and workshops, yoga teacher training, therapeutic treatment rooms and more, and retail clothing and jewelry sales.
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TENANT PROFILESTENANT PROFILESAngel Touch Nails by AnneTenant since 2005. This well-established salon provides a full range of manicure, pedicure, nail polishing, waxing and related services.
Lisa’s Doghouse Pet GroomingTenant since 2017. A modern studio providing a full range of high quality pet grooming services backed by over 30 years’ experience as a professional pet groomer.
IBrow ThreadingTenant since 2014. Specializes in eyebrow threading and other licensed facial-related services and products with locations in Tempe, Mesa and Chandler.
Healing Path Massage and ReflexologyTenant since 2016. This well-appointed studio provides Chinese therapeutic massage therapies and reflexology treatments.
Wal-Mart Neighborhood Market (Not A Part)
Wal-Mart has expanded its fleet of smaller-format stores, called Neighborhood Markets, now with over 700 locations in addition to their 3,565 standard Wal-mart locations. The Markets, which are one fifth of the size of Wal-Mart Supercenters, pose a major threat to traditional supermarkets like Whole Foods, Kroger, and Trader Joe’s, according to Moody’s analysts. ”The advantages of the Neighborhood Market concept will be difficult to beat back,” Moody’s Vice President Charles O’Shea said in a recent note to clients. The Markets are like mini Supercenters. The interior of some of the stores is very similar to Wal-Mart’s big warehouses, with exposed ceiling beams, wide aisles and fluorescent lighting. The Markets put a strong focus on three of Wal-Mart’s strongest categories — groceries, pharmacies, and fuel. And they have a wide selection of fresh produce.