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The Offering: |
The Recker and Brown shops is a neighborhood shopping center anchored by a Health Club (not a part) called Fitness Works. The property is located on the hard Northeast corner of the signalized intersection of Recker Road and Brown Road in Mesa, Arizona. This offering includes +19,524 square feet of shops flanking the Fitness Works health club.The excellent tenant mixture of the shops includes Edward Jones, Arizona National Safety Council, Spalding’s World Class Karate, Tutoring Club and nail salon. The building layout for the Recker and Brown Shops creates excellent visibility along both Recker Road and Brown Road. The site was constructed in 1999 for maximum visibility from both streets with a clean site line to the anchor from Brown Road. The quality of construction shows a true pride of ownership from the current owner and ensures minimal capital expenditures for the next owner. Along with the health club anchor tenant, (not a part of the offering), the diverse group of shop retailers creates a constant flow of traffic from the dense surrounding residential community. This consistent traffic contributes to the economic feasibility of all the retail tenants, providing a stable real estate investment opportunity for years to come. |
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Property Type: |
Neighborhood Center |
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Year Built: |
1999 |
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Approximate Size: |
±19,524 SF |
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Site Area: |
4.3 Acres |
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Price: |
$1,850,000 |
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CAP Rate: |
NA |
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Occupancy: |
34% |
| Terms: |
Cash to Existing Loan |
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