Tucson, AZ - Houghton Town Center

Description:

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, multi-tenant retail building investment property located in Tucson, Arizona. The offering features a strong tenant lineup of MOD Pizza, Cold Stone Creamery, Crumbl Cookies, and Sport Clips. All current tenants are operating under leases which are NNN in nature, limiting expense leakage, and signed long term leases with a combined weighted average lease term remaining of 6.1 years.

The asset is strategically located near the hard corner intersection of S. Houghton Road and Old Vail Road, serving a combined 38,435 vehicles passing daily. The site has excellent position as an outparcel to the Houghton Town Center, featuring just over 400,000 square feet of retail space. The center ranks in the top 94th percentile among shopping centers nationwide with 4.5M+ annual visits (per Placer.ai), highlighted by national/credit tenants including Walmart Supercenter, Ross, TJ Maxx, Petco, and McDonald’s. Furthermore, the Home Depot, adjacent to Walmart Supercenter, is nearing completion. Home Depot occupies a 10-acre lot with 136,000+ square feet of building, providing an additional anchor to boost consumer draw to the center. The subject property already receives a significant amount of crossover retail exposure from the surrounding tenants, proven by the performance of the longest tenured tenant in the offering, MOD Pizza. The tenant is the top performing brand location
in the state with 170K+ annual visits (per Placer.ai). Houghton Town Center is the primary retail center serving Southeast Tucson, with direct, unrivaled access to an affluent consumer base, including the 6,000+ professionals working at the University of Arizona Tech Park, only 3-miles from the site. The trade area is supported by a population of over 90,559 residents and 26,697 employees with an average household income of $123,006.