LIST PRICE:
$7,933,000

PRICE PSF:
$269

CURRENT OCCUPANCY:
100%
 
FEATURED LISTING:
SHOPS AT RAINTREE
8698 E. Raintree Drive, Scottsdale, AZ
INVESTMENT HIGHLIGHTS
 
• Complementary Tenant Mix – 100% occupied, value-focused co-tenants cater to the property’s trade area, including Boot Barn, Ski-Pro, Enterprise Bank & Trust, Massage Envy and Brooklyn Bedding
 
• High Image Retail Anchors – Destination anchors Walmart, Costco, Home Depot, Kohl’s, and At Home along with future high-density residential provide regional traffic to the property
 
• Class-A Multi-Family Project Adjacent – Shops at Raintree sits directly in front of Alta Raintree, a 323 multi-family unit building currently under construction, (est. completion late 2021), adding additional traffic to the property during all day parts
 
• Below Replacement Cost Opportunity – At the list price ($269 PSF), the property will trade at a  discount to its land-inclusive replacement cost estimated to be $300 PSF
 
• Below Market Lease Rates – 100% of the project is leased at lease rates below current market rates. Property wide, CBRE estimates current lease rates to be 12% below market on average across the project
 
• Commuter Route Frontage – Shops at Raintree boasts substantial frontage on primary commuter route AZ-101 (Phoenix 101 Loop) which sees an approximate ±160,000 CPD[1] as well as ±305 feet along North 87th Street which sees ±31,100 CPD[1]
[1] Source: Costar Realty Information Inc.
 
• Coupon Clipper – Five-tenant asset with NNN leases, perfect for out of town investors

 
CLICK HERE TO DOWNLOAD OFFERING MEMORANDUM

 
FOR MORE
INFORMATION
PLEASE CONTACT:
 
NRP-WEST
JOHN EDDY*
+1 949 725 8550
Lic. SA-626078000
[email protected]
 		 JIMMY SLUSHER
+1 949 725 8507
Lic. 01857569
[email protected]		 ERIC SHAIN
+1 949 809 3758
Lic. 02050566
[email protected]
LOCAL MARKET*
BARRY GABEL
+1 602 735 5273
Lic. SA025876000
[email protected]
 
*This listing will be sold through the Arizona licensed real estate agents/brokers above. All questions, comments or other communications should be directed to John Eddy and Barry Gabel.



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.

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