Overview

Description

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate signed, Dollar Tree investment property located in Litchfield Park, Arizona (Phoenix MSA). The tenant, Dollar Tree Stores, Inc., has over 9 years remaining on their current lease term with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

The property is located near the signalized, hard corner intersection of W Indian School Road and N Jackrabbit Trail with a combined 11,100 vehicles passing by daily.
N Jackrabbit Trail, is a major retail thoroughfare serving the city of Litchfield Park. The asset is positioned within Jackrabbit Ranch Marketplace, a 75,000 square foot shopping center anchored by Goodwill. In addition, Dollar Tree is located across the road from Village Grove at Verrado, a 170,000 square foot shopping center with major tenants including Fry’s Electronics, AutoZone, Ace Hardware, and more. Furthermore, the property is in the center of a primary retail corridor with other nearby national/credit tenants including a Costco Wholesale, Dollar General, CVS Pharmacy, Brakes Plus, and more, further increasing consumer traffic to the site. Strong tenant synergy promotes crossover shopping to the subject property. The 5-mile local trade area is supported by more than 96,900 residents and 5,300 employees. Residents within 3-miles of the property average an affluent household income of $154,042.

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