valley plaza

Core-Plus Case Study (active)
Valley Plaza Shopping Center
The Opportunity
  • In Q3 2015 CIRE acquired a 145,762 SF multi-tenant wholesale specialty grocery-anchored retail property located on the northeast corner of Southern Avenue and McClintock Drive in Tempe, AZ

  • Capital preservation/current yield opportunity providing stable long-term cash flows from nationally recognized tenants such as Ross Dress for Less, US Foods, Starbucks, Sprint and Subway

  • Attractive cash on cash yields to investors throughout the hold period

  • High visibility location just three miles southeast of Arizona State University (ASU)

Value-add Strategy
  • Near-term upside potential to enhance cash flows through the recapture/releasing of multiple in-place, below-market small shop tenants at current market rents

  • Acquire a well-located, stabilized asset and aggressively apply asset management expertise to the property to maximize efficiencies, reduce costs, and enhance cash-flows

  • Roll-out of an aggressive hands-on leasing strategy for the remaining vacant suites utilizing generous tenant improvement packages and leasing commission incentives

 
Property Description

 

Property Type:
Multi-tenant Retail

Sub-Market:
Glendale, Arizona

Number of Bldgs:
Nine (9)

SF / Acres:
221,388 / 23.9 Acres

Year Built:
1992 & 1998

Current Occupancy:
94%