Surprise, AZ - Crossroads Towne Center

12751-12875 West Bell Road, Surprise, AZ

$27,400,000

Price

156,647 sqft

Building Size

85%

Occupancy

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Street
Map
Overview
Building Size
156,647 sqft
Occupancy
85%
Year Built
1987
Description

SRS Real Estate Partners-West, LLC is pleased to offer the rare opportunity to acquire Crossroads Towne Center, a 156,647 SF shopping center located in Surprise, Arizona. The shopping center is anchored by a 99 Cent Only store, which has had 35 years of operating history. The junior anchors consist of: Big 5 Sporting Goods, Harbor Freight Tools, Peter Piper Pizza and Other Mothers Clothes. The shopping center is 85% occupied with a good mix of national and local tenants. Other notable tenants include Subway, Metro PCS, and St. Vincent De Paul. The property also consists of a 2,000 SF pad site currently occupied by Batteries Plus. All of the tenants are on NNN leases, limiting expense leakage for a new investor. This offering presents the unique opportunity for a new investor to add significant value through lease-up of the current vacant spaces. Current ownership also recently invested significant capital toward roof recoating for approximately 1/3 of the center, reducing capital expenditure required by a new owner.

The subject property is strategically located at the signalized, hard corner intersection of W. Bell Road and N. RH Johnson Blvd./Crossroads Blvd. averaging 83,000 combined vehicles passing by daily. The site benefits from excellent visibility via significant street frontage along W. Bell Road. The property is ideally situated in the heart of the Surprise retail corridor and is within close proximity to multiple shopping centers including Surprise Marketplace (467,300 SF) and Surprise Town Center (518,100 SF). W. Bell Road is the primary retail corridor serving the immediate trade area, with other national/credit tenants including Walmart Supercenter, Home Depot, Target, Lowe’s, Fry’s, and more, promoting crossover traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover retail exposure for the property’s tenants. The 5-mile trade area is supported by a dense population of over 230,000 residents with an average household income of $58,000. The property is located directly across from the entrance to the 55+ community of Sun City West.

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Listing ID: a288X0000066EWqQAM
Location
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