Buckle and Bath & Body Works

Highlights:

• Both tenants signed new 10-year lease extensions after relocating from the old mall building, Pine Ridge Mall
• New construction Target and strip buildings
• Corporate signed leases for each tenant
• Replaceable rents of $33/SF and $39/SF
• Pine Ridge Mall - 660,000+ SF of leasable area currently at 95% occupancy
• Ranked in the top 12% of shopping centers nationwide in terms of annual visitors – 3.1M (per Placer.ai)
• Other major national tenants driving traffic to the center include Hobby Lobby, C-A-L Ranch Stores, Planet Fitness, and AMC Theatres
• Explosive growth submarket – estimated population increases of 14-16% within a 3, 5, and 7-mile radius over the next 5 years
• Seamless access to major highways like I-86 and US-91 and close in proximity to the Pocatello Regional Airport
• Other national tenant driving traffic to the direct trade area include Walmart, Lowe’s, Dick’s Sporting Goods, Home Depot, Old Navy, Ross, and TJ Maxx

Description:

A new construction pad to ground up Target anchored power center. The old mall was demolished to make way for a new Target, and both Buckle and Bath & Body Works relocated after 25+ year operating histories at the mall to this new construction pad, at relatively low pad rents. The center is now over 95% occupied and ranked in the top 12% of shopping centers nationwide in terms of annual visitors – 3.1M (per Placer.ai).

Documents: