Low-Cost Basis Retail | 90% Occupied | Hard Corner Shopping Center

Highlights:

• National credit anchors including Burlington (ground sublease), Ross Stores, and Planet Fitness
• Primary trade area population is 71% Hispanic

Description:

Ri Marketplace Online Auction August 11-13, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2595/low-cost-basis-retail-90-occupied-hard-corner-shopping-center?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2595

Kidder Mathews, in conjunction with RI Marketplace, is pleased to present the opportunity to acquire Desert Sky Festival (the Property), a 90% leased 198,310 square foot anchored retail center (133,442 SF + 64,868 SF Burlington ground sublease) located in a strong shopping district in the densely populated West Phoenix submarket. The lender-owned Property, encumbered by a ground lease running through December 31, 2047, offers a strong tenant roster including such national anchors as Burlington (ground sublease), Ross Stores and Planet Fitness. Other notable tenants include McDonald's and Applebee's, both pads are included with the offering. With a WALT of 6.3, good user interest on the two remaining vacancies along with a strong operating history, Desert Sky Festival is poised to continue attracting daily-needs users looking to capitalize on the dense trade area.

Desert Sky Festival benefits from its highly visible location at the lighted intersection of two major arterials - Thomas Road and 75th Avenue in Phoenix, Arizona. The intersection is a destination retail core anchored by Desert Sky Mall located across 75th Avenue. Desert Sky Mall - institutionally owned by Macerich - is a 738,000 square foot super regional, fully bilingual mall catering to the 71% Hispanic population within the primary trade area. With nearly 80,000 vehicles transiting the intersection daily, coupled with a five-mile daytime population of 360,000 and $63B buying power reached by Hispanics, retailers should continue to prosper at Desert Sky Festival.


Lamar P. Fisher
Fisher Auction Company Inc.
License: Internet Auctions Exempt from Licensing

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