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OFFERING PRICE:
$9,606,000
PRICE PSF:
$72
CURRENT OCCUPANCY:
83%
TOTAL BUILDING AREA:
±134,282 SF
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INVESTMENT HIGHLIGHTS
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Safeway Anchored Community Shopping Center – Few high-performing, low rent, national credit tenant grocery anchored shopping centers come to market. Sawmill Square is a ±134,282 SF community shopping center, anchored by a high performing Safeway along with a complementary mix of co-tenants including Office Max, Planet Fitness, Family Dollar, and Davita Healthcare, providing a strong daily-necessities draw to the center
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Tremendous Grocer Sales Combined with Extremely Low Occupancy Cost – Safeway thrives at this location generating extremely strong sales. This established store – operating at Sawmill Square since 1980 – has remaining lease term to 2030 and is paying only $3.29 PSF/YR in rent producing extremely low occupancy costs with a tenant health ratio of less than 1.00%!
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Recent Lease Renewal – Safeway recently exercised an early renewal exercising two options for a total of a 10 year lease extension
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High Identity, High Traffic Hard Corner – The property is prominently located at the hard corner of Main Street and Cottonwood Street, two of the major thoroughfares in Cottonwood, featuring over ±27,000 [1] cars per day with over ±1,800 combined feet of lineal frontage along both streets
[1] Source: Costar Realty Information Inc.
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Rare Below Replacement Cost Grocery-Anchored Center – At just over $70 PSF, the high-performing Sawmill Square will trade significantly below its land inclusive replacement
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Low Rents/Embedded Value – Property wide, Sawmill Square rents are over 40% below current market rates
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Immediate Upside Opportunity – Sawmill Square is currently 83% leased, providing ±23,065 SF of space immediately available for leasing upside
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Excellent NOI Growth / Healthy CAGR – The combination of near-term tenant rollover and below market rents as well as fixed rental increases create the potential to grow NOI at Sawmill Square more than $394,000 (57%) over a 10-year hold period, providing an excellent inflationary hedge
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Strong NOI Growth translates to a highly desirable 4.7% CAGR or compounded annual rental growth rate. |
CLICK HERE TO DOWNLOAD OFFERING MEMORANDUM
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FOR MORE
INFORMATION
PLEASE CONTACT:
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THIS IS A MARKETING COMMUNICATION
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE.
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Ultimately, occupiers and landlords must make and implement their own reopening decisions for their individual stakeholders and facilities. CBRE's guidance is intended to help facilitate those discussions and expedite the implementation of those decisions once made by the client. We make no representations or warranties regarding the accuracy or completeness of these materials. CBRE cannot ensure safety and disclaims all liability arising from use of these materials.
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