Mountainview Plaza Shopping Center is located in the thriving Rogue River Valley, anchored by the City of Medford, along with Central Point, White City and Ashland. The area’s Top Ten largest employers include: Asante Health Systems, Harry & David HQ, Providence Medical, Amy’s Kitchen, Boise Cascade, Lithia Motors, Pacific Retirement Services, Timber Products and Oregon Shakespeare Festival. A total of 25 employers have over 195 employees, with the Top Ten employers all employing over 595 employees.
The center is located in Jackson County and the county has seen a job market increase of 2.6% in the past year. Median household income has increased by 5.26% in the last two years from $44,028 to $46,343. Median single family property value is $225,000, with 62.9% home ownership. The county is the sixth most populated in the State of Oregon and the average age is under 43 years old.
Area population in 2015 was over 210,000 people. The Medford metro area is recognized as the primary regional medical center with all types of medical care available in the metro area. Central Point is a well established Middle to Upper income bedroom community in the Medford metro area.
THE SHOPPING CENTER
The center is comprised of a total GLA of 44,503SF, including 20 inline and pad tenants with 100% occupancy and a history of very stable high occupancy over the past ten years. Tenancy in the center includes many tenants who exemplify the trend towards “daily needs” tenants that generate higher than average weekly visits to the center. The center is shadow anchored by a very successful Albertson’s and a furniture retailer, Furniture Row, both of which reimburse the center for CAM Management charges. Lease expirations are spread across multiple years, thus reducing annual risk of losing tenants and reducing re-tenanting costs for improvements and lease commissions.
Rental rates in Mountainview Plaza average $1.45SF NNN. Similar Albertson’s anchored centers including Allen Creek in Grants Pass to the north of Medford at an average of $1.25SF NNN and Larson Creek with recent leases signed at $1.58SF NNN to $2.00SF NNN. Larson Creek is the best example of a head to head comparable center to Mountainview Plaza with both centers being Albertsons anchored and both including numerous restaurants, medical tenants and other daily needs tenants. Larson Creek has somewhat higher end demographics than Mountainview Plaza.
The center is conveniently located along I-5 freeway at the Pine Street interchange in the northern part of the Medford MSA. The center is across the freeway from Rogue Valley International Airport and approximately a six minute drive north of the downtown Medford Central Business District and the nearby Rogue Valley Mall. The site is comprised of approximately 12.6 acres of level ground with excellent visibility and easy access to/from I-5 freeway and the Pine Street overpass.