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Greenfield Gateway
US-60 & Greenfield Road | Mesa, AZ
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Investment Highlights
- Value Add Retail Investment Opportunity
- Wal-Mart Shadow Anchored Shopping Center
- CAP Rate Of 10.7% With The Anchor Space Repositioned To Pay A Market Rent
- Strong Tenant Line Up: AT&T, Sally Beauty, Lina Fine Furnishings, Bright Now Dental, And More
- US-60 Has Over 190,000 Vehicles Per Day
- New Monument Signage That Stands 65 Feet Tall
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A fee simple interest is being offered for Greenfield Gateway Shopping Center, a 67,599 SF retail Power Center located in Mesa, AZ. Greenfield Gateway is a Wal-Mart shadow anchored shopping center located directly off of the US-60 Freeway and Greenfield Road. Wal-Mart is consistently one of the top Wal-Marts in the state because of its close proximity to the US-60 Freeway that pulls from a large trade area of shoppers. Greenfield Gateway is located at a regional retail intersection with such tenants as Hobby Lobby, LA Fitness, At Home, Sportsman’s, Starbuck’s, Autozone, and more.
This is a true value add property with the ability to lease up the vacant spaces as well as the ability to replace the anchor tenant for a higher rent or better credit. Rents are currently below market for most of the tenants and the property is being offered at below replacement cost. Currently the landlord has a unilateral termination option against Terri’s Consign and Design, who is currently paying a gross rent lease that is well below market.
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