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The Offering: |
Pepper Ridge Plaza is a grocery anchored neighborhood shopping center located on the Southeast corner of Cave Creek Road and Union Hills Drive in Phoenix, Arizona. The center lies approximately 1 mile south of the Loop 101 Freeway, one of the main arterial freeways serving the northeast valley of Metropolitan Phoenix. It is also within one mile of the newly built Costco neighborhood center and multiple new residential projects, an area which has seen a recent resurgence and positioned well going forward. This offering includes +19,818 square feet of shops flanking the Albertsons/Osco store.The excellent tenant mixture of the shops includes Papa John’s Pizza, Dental office, Hollywood Video, Loan Mart, Postal Connection of America, and Cost Cutters.The building layout for Pepper Ridge Plaza creates excellent visibility along both Cave Creek Road and Union Hills Drive. Along with the grocery anchor tenant, Walgreen’s and Burger King (not a part of the offering), the diverse group of shop retailers creates a constant flow of traffic from the dense surrounding residential community. Pepper Ridge Plaza is unique in that the shops are the only retail shops at the intersection and the grocery store anchor is the only store in the area. |
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Property Type: |
Grocery Anchored Neighborhood Center |
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Year Built: |
1998 |
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Approximate Size: |
±19,818 SF |
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Site Area: |
2.21 Acres |
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Price: |
$3,350,000 |
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CAP Rate: |
10.0% |
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Occupancy: |
89% |
| Terms: |
All Cash or Cash to New Loan |
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