fletcher heights - loopnet · avison young is pleased to present for sale, fletcher heights plaza...

avisonyoung.comrevised: 01/28/20

Fletcher Heights8267-8279 W Lake Pleasant Parkway | Peoria, AZ 85382

Linda Robbins, CCIMD 480 423 7917 C 602 390 7262 [email protected]

2777 E Camelback RdSuite 230Phoenix, AZ 85016480 944 8155

Fully Leased Retail Investment Opportunity

©2020 Avison Young - Arizona, LTD. All rights reserved.

PRICE REDUCED!

Fletcher Heights | 8267-8279 W Lake Pleasant ParkwayFor Sale

©2020 Avison Young - Arizona, LTD. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young. 2

YEAR BUILT2004

PROJECT SIZE15,683 sf project including two buildings on 2.73-acre lot

Building 1: Strip Center - 13,171 sfBuilding 2: Restaurant - 2,243 sf

PURCHASE PRICE / CAP RATE$3,200,000 / 6.55%

TAXES2019: $43,143 ($3.29/sf)

PARKING5/1,000 sf

APN200-17-958

ZONINGPAD

PROPERTY HIGHLIGHTS• Fully leased

• Silicone roof coating (2019)

• Newly sealed, coated, and striped parking lot

• LED light conversion in parking lot and exterior lights

• Minutes from the Loop 101 Freeway and Beardsley Road

• Strong demographics

• Close proximity to restaurants, shopping, activities, and schools

Avison Young is pleased to present for sale, Fletcher Heights Plaza at 8267-8279 W. Lake Pleasant Parkway. This attractive property, situated directly North of Beardsley Road in the heart of Fletcher Heights master planned community, is surrounded by residential neighborhoods and is less than a mile from Loop 101 with easy access to Metro Phoenix.

The retail sites for sale consists of two buildings: a 2,267 sq ft building occupied by 10Yr+ tenant Cousin Vinny’s Pizza and Pasta restaurant and a fully-leased multi-tenant strip center. These are part of a larger project that includes two additional strip centers, a Wells Fargo Bank branch, a Montessori preschool and a jewelry/showroom.

Three available monument signs direct attention to multiple destination businesses within the center including a notable Brewery; a hair salon; Crossfit; a crafting boutique for both adult and children’s events; and United Kung Fu studio (a tenant since 2011). The plaza maintains a good tenant mix servicing an upscale area and, at below-market rates, presents an excellent buying opportunity.



BLACK BOARD FITNESS

BLACKCADILLAC

SALON

SHE’S CRAFTY

UNITEDKUNG FU

RICHTER ALE WORKS



Partnership. Performance. avisonyoung.com

Quick Stats

Shift from Goods to Services

With store closings out-pacing openings

two to one, the retail landscape at first

glance appears to still be in free fall, but

all is not lost. Far from it. The dramatic arc

of the sector from boom times to crash

certainly grabs headlines but the real story

of retail at this point in the cycle is about

reinvention.

The rise of e-commerce is an obvious

trend at the heart of retail's challenges.

Last quarter, this report noted a number of

industry responses to the digital revolution

from pop-ups to omni-channel marketing

to experiential retail. The basic fact remains,

though, that the parts of the retail sector

performing best offer consumers tangible

and intangible goods & services that

cannot be downloaded — services like

getting a haircut, the experience of fine

dining, attending a live music event, or

taking the family to a trampoline park.

A recent ICSC report took note of the

changing mix of goods versus services in

retail and provides important perspective

on the seismic shifts occurring in the

sector. Store closures grab headlines,

but the report shows that while the

number of retail establishments selling

goods has declined 4.5% since 2002, the

number of establishments selling services

has increased by 20.5%. As of 2017, the

share of the overall retail market selling

goods accounts for 46.8% and those

selling services account for 53.2%. Also

noted is the fact that sales per store has

increased substantially from 2002 to 2017.

The transformation of retail is a more

nuanced story, and one that underscores

the responsiveness of developers and

brokers to changing consumer habits and

recalibration of store mix and site selection

approaches to filling empty storefronts.

Phoenix

20.5% Increase since 2002 in number

of stores selling services

$17.09 Average asking NNN rental rate

psf for fourth quarter 2019

519 K Net absorption for fourth

quarter came in at 518,796

square feet

1.3 M Square feet of retail space

delivered in past 12 months

$2.2 BTotal sales volume for Q4 2019

Quick Stats

Retail Market ReportFourth Quarter 2019

Q4 2019 I Phoenix Retail Market


Tenant Building Submarket Square Feet Type

Goodwill 5263 S Power Road Gateway Airport Retail 24,930 Direct

Sky Zone 928 W Camelback Road Downtown Phoenix Retail 22,403 Direct

Goodwill 1565 W Happy Valley Blvd Deer Valley Retail 21,280 Direct

Goodwill 14063 W Grand Ave Surprise/North Peoria Retail 18,915 Direct

Banfield Pet Hospital 21002-21102 S Ellsworth Road Queen Creek Retail 18,019 Direct

Napa Auto Parts 9897 W McDowell Road Tolleson 17,768 Direct

Top Leases

Fourth Quarter / Retail Market Report Phoenix

Buyer Building Submarket Square Feet Sale Price Price/SF

YAM Properties Shops at Norterra Deer Valley 362,878 $108,000,000 $496

Centerpoint on Mill Wexford Developments Tempe 125,497 $60,000,000 $478

First Washington Realty Shops at Gainey Village Central Scottsdale 91,204 $55,350,824 $607

Lamar Companies Mesa Pavilions North Red Mountain/Mesa 106,106 $26,800,000 $253

Lakeview Village Corporation The Groves - Tempe Chandler 166,227 $18,500,000 $109

Top Sales

Property Submarket Completion Total SF % Preleased/Owned

City Gate Marketplace Red Mountain/Mesa Retail 2Q 2020 132,300 98.3%

The Post at Cooley Station Gilbert Retail 3Q 2020 125,944 87.0%

Biltmore Fashion Park Central Scottsdale Retail 1Q 2020 80,000 100.0%

The Watermark Tempe Retail 1Q 2020 44,000 44.3%

The Pavilions at Talking Stick Central Scottsdale Retail 1Q 2020 36,974 18.4%

Top Projects Under Construction

Dark Stores & RestaurantsConsumer shopping and dining habits are changing as online ordering & delivery becomes more popular. Developers, restaurateurs, and brokers are responding by leasing space that is closed to the general public and is designed to fulfill online orders and expedite delivery.

Trends to Watch

Crowded Store AislesDark stores offer a solution for

frustrating trips to the supermarket as close-in parking spots are increasingly

reserved for pick-up & delivery vehicles & aisles more crowded with

dedicated insta-cart shoppers.

First Come, Last ServedDark restaurants provide welcomed relief for restaurant diners who find themselves last served after delivery orders and drivers rushing hot food

to stay-at-home consumers.

Micro-Fulfillment CentersSome retailers are pushing the tech envelope by adapting store space as micro-fulfillment centers that create online/in-store synergies, as well as testing robotics and autonomous

shopping carts.

Vacancy Rates Absorption & Deliveries

0

500

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1,500

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2,500

3,000

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4,000

4,500

2013 2014 2015 2016 2017 2018 2019

Thou

sand

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Rental Rates

$12

$13

$13

$14

$14

$15

$15

$16

$16

$17

$17

2013 2014 2015 2016 2017 2018 20195%

6%

7%

8%

9%

10%

11%

2013 2014 2015 2016 2017 2018 2019




Phoenix retail vacancy currently stands at

7.1% overall, down 560 basis points from peak

vacancy in 3Q 2011, among the strongest compression of all US

markets.

Fourth Quarter / Retail Market ReportPhoenix

Rental Rates Rent growth overall has trended upward for most retail sub-sectors with rates now near the national average. The exception is for power centers and malls which have slipped this past year by 1.1% and 7.1% respectively. Average NNN asking rent in 4Q 2019 is $17.09 psf. Free-standing retail properties averaged $19.51 psf.

Vacancy Despite alarming headlines about empty storefronts, Phoenix retail vacancy currently stands at 7.1% overall, down 560 basis points from peak vacancy in 3Q 2011, among the strongest compression of all US markets.

Leasing Retail leasing is fairly stable and local developers and brokers have collaborated on creative reuse for obsolete product. Fitness tenants leased up significant space across Metro Phoenix. Grocery retail continues to evolve to meet changing consumer shopping habits as well as opening new stores in fast-developing suburbs like East Mesa and Queen Creek. Aldi, the German discount grocer, has delayed slightly its planned store openings until after the completion of a distribution center in Goodyear.

Aldi in Arizona

ConstructionIn retrospect, the intensity of retail overbuilding in the run-up to the

recession was utterly unsustainable. Developers built 30 million square feet (msf ) of new space from 2006 through 2008. In recent years, that pace has dwindled to a manageable 1.7 msf annually on average. Currently, 1.1 msf is in the pipeline with deliveries scheduled through 2021.

The year ended with a major announcement that Akimel 7, a massive multi-billion dollar sports and entertainment project on tribal land near the junction of Loops 101 and 202, has been approved. Details of the plan have not yet been announced.

Safeway opened 79,000 sf near the new master planned community of Eastmark in Mesa in November. Eastmark ranked 7th nationally for sales and first in Arizona in the master planned community category.

Suburban Retail Expanding

Investment Sales Phoenix retail property sales finished the year with the third best volume figure for the decade at $2.3 billion. Annual sales volume peak at $2.4 billion in 2006. Price per square foot hit a record $210, up 63.4% from the recession trough in 1Q 2013 when it cratered at $85.04 psf, a price not seen since the end of 1998. The biggest transaction of the quarter was executed in October when GoDaddy founder, Bob Parsons' YAM Properties paid $108 million for Shops at Norterra.

Under Construction

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2013 2014 2015 2016 2017 2018 2019

Thou

sand

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Investment Sales

$0

$20

$40

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$80

$100

$120

$140

$160

$180

$200

$0

$500

$1,000

$1,500

$2,000

$2,500

2013 2014 2015 2016 2017 2018 2019Mil

lio

ns

$/Yr $/SF

Q4 2019 I Phoenix Retail Market (Continued)

© 2020 Avison Young - Arizona, LTD. All rights reserved. E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young.

Properties

avisonyoung.com

Market By The Numbers*

Fourth Quarter / Retail Market ReportPhoenix

*The data contained in this market report is obtained from The CoStar Group, Inc., and is used under licensed permission. The report is based on all Metro-Phoenix markets for retail buildings. It includes sublease space only upon the date of availability. Both current and historical data has been adjusted with corrected or updated information, af ter it was obtained. This may prevent comparison to previously released reports.

Submarket Total RBA (SF)

SubleaseVacancy

TotalVacancy

Shopping Center

Vacancy Rate

Free-standing Vacancy

Rate

Q4Deliveries

Under Construction

(SF)

Q4 Net Absorption

(SF)

Avg. Ask Free-

standing (NNN)

Avg. Ask Shopping

Center (NNN)

Avg. Ask Overall (NNN)

Ahwatukee Foothills 3,261,598 0 298,194 10.2% 2.9% 13,500 0 (14,264) $17.17 $30.52 $18.40

Airport Area 3,883,151 0 133,537 3.6% 3.2% 0 0 16,712 $19.73 $18.91 $19.39

Anthem 2,607,197 0 103,293 5.1% 1.4% 3,200 59,328 26 $15.14 $28.41 $17.31

Apache Junction 2,094,902 15,251 138,500 7.4% 5.7% 0 824 25,901 $15.00 $16.50 $15.06

Carefreee 1,869,626 0 170,975 11.9% 2.3% 0 0 5,682 $15.29 $15.23 $17.04

Central Scottsdale 10,205,158 6,023 491,664 5.5% 2.2% 0 48,697 70,394 $19.91 $21.32 $20.20

Chandler 16,033,611 23,767 802,242 5.2% 4.6% 61,212 167,981 182,864 $28.09 $27.01 $27.75

Central Peoria/Arrowhead 17,142,344 8,100 1,027,333 7.2% 2.6% 5,280 57,312 (61,282) $13.26 $22.99 $14.86

Deer Valley 2,121,386 2,150 49,917 2.8% 0.9% 0 0 24,404 $19.91 $22.63 $20.55

Downtown Phoenix 7,631,464 7,191 521,451 9.0% 5.9% 0 51,849 (84,615) $13.36 $23.49 $19.29

East Phoenix 8,921,195 0 646,375 11.1% 1.7% 6,000 18,463 (11,041) $14.36 $16.41 $15.05

Fountain Hills 782,227 0 60,865 9.0% 6.5% 0 0 13,271 $15.53 $15.11 $15.31

Gateway Airport 3,049,115 1,900 203,279 6.4% 7.6% 0 88,776 (71,221) $15.73 $17.60 $16.49

Gila River Outlying 356,506 0 0 0.0% 0.0% 0 0 0 - - -

Gilbert 16,239,955 18,771 957,339 6.8% 3.3% 71,108 288,514 36,782 $16.54 $20.11 $16.97

Glendale 11,349,830 13,013 747,908 8.8% 2.4% 0 20,400 81,037 $16.72 $14.62 $16.52

Goodyear 3,561,860 0 238,492 8.9% 0.8% 0 0 6,099 $17.05 $19.00 $17.11

Laveen 1,523,105 0 65,240 4.3% 4.1% 0 7,489 8,054 $16.02 $29.53 $17.84

Loop 101/I-10 3,119,593 0 81,151 2.6% 2.6% 80,000 8,087 101,987 $23.82 $21.06 $23.18

North Goodyear/Litchfield 6,800 0 0 0.0% 0.0% 0 0 0 - - -

North Phoenix/I-17 Corridor

63,968 0 3,884 0.0% 6.1% 0 0 (3,884) - - -

NE Outlying Maricopa 5,180,210 0 136,802 3.1% 0.7% 41,847 24,631 38,109 $19.67 $29.03 $21.36

North Buckeye 16,330,707 40,349 1,631,157 12.0% 5.2% 2,519 5,569 (37,825) $10.32 $13.25 $10.77

North Scottsdale 15,484,639 3,312 801,896 6.1% 2.7% 0 0 (45,515) $21.57 $24.77 $22.54

Outlying Pinal County 8,513,457 16,400 788,483 11.3% 6.6% 0 29,800 31,168 $12.83 $10.21 $12.23

Queen Creek 2,095,497 0 96,715 6.0% 0.0% 4,448 24,900 1,621 $18.96 $12.00 $18.14

Red Mountains/Mesa 30,888,552 22,382 3,202,916 12.2% 6.7% 67,402 153,100 182,949 $13.65 $14.18 $13.74

South Buckeye 1,537,085 0 32,984 1.2% 4.0% 5,000 71,185 3,344 $15.34 $12.00 $15.21

South Mountain 1,674,298 0 47,282 3.7% 0.9% 0 0 20,000 $15.84 $25.00 $16.12

South Phoenix 1,700,776 6,387 58,679 4.0% 3.1% 0 0 14,915 $14.07 $11.73 $12.49

South Scottsdale 3,825,005 6,777 216,952 7.6% 4.4% 1,887 0 (33,518) $16.13 $18.59 $17.28

Sun City 3,753,585 0 294,320 13.2% 1.8% 0 0 13,540 $10.28 $15.91 $10.78

Surprise/North Peoria 5,654,149 0 196,054 3.6% 3.1% 0 8,575 20,392 $11.23 $17.23 $12.37

Tempe 8,252,929 5,800 517,386 7.2% 4.1% 2,400 44,000 (37,865) $15.55 $24.99 $19.38

Tolleson 2,838,348 0 174,795 7.8% 3.7% 2,200 0 13,494 $10.57 $13.69 $11.02

West Outlying Maricopa 792,170 0 11,105 0.0% 1.5% 0 0 6,989 - $27.85 $27.85

West Phoenix/Maryvale 8,201,327 0 432,334 7.1% 1.8% 0 0 7,556 $11.00 $12.40 $11.44

Total 232,645,714 197,573 15,382,181 7.9% 3.9% 368,003 1,170,780 518,796 $16.05 $19.51 $17.09



Retail overall in the Valley is experiencing low vacancy but relatively slow growth and moderate recovery from the recession which hit the sector very hard. While rental rates are still 20% below pre-recession peaks, gains over the past five years have been steady.

Vacancy rates have fallen from 12.6% in the first quarter of 2011, to 6.6% overall in the third quarter of 2018, a record reversal for any retail market nationally. Average asking NNN rents currently stand at $14.93 per square foot, varying greatly across submarkets.

Leasing activity is largely concentrated in particular sub-sectors including restaurants, fitness centers, and medical spaces. This has helped offset somewhat the effect of high-profile store closures by notable national chains like Forever 21, Bed Bath & Beyond, and Payless Shoes. PAD sites are drawing a good deal of tenant attention as they offer high visibility and traffic counts.

Construction has remained weak despite growing consumer demand in part to mitigate consequences from an economic downturn as the last recession proved so damaging to the region’s retail market. Under 2 million square feet is currently in progress and a paltry 1.2 million square feet is set for delivery for the year.

Phoenix Retail Market I Area Overview

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

2013 2014 2015 2016 2017 2018 2019 YTD

Peoria/Arrowhead Metro Phoenix

VACANCY RATE

The submarket’s retail indicators are, overall, healthier than average for Metro Phoenix. Rental rates have climbed steadily from the depths of the recession and currently command $21.87 per square foot across all retail types and expected to remain above the Valley trend for some time. The vacancy rate stands at 5.6% and is not expected to rise significantly in the near future. The submarket experienced negative net absorption in the third quarter of 52,135 square feet with no new deliveries. Sales volume in Q3 registered $26 million at $204 per square foot, well above the Metro Phoenix average of $188 psf. Recent notable

sales include Black Angus Steakhouse at 7606 W. Bell Road as part of a large $2.4 billion portfolio, a neighborhood center at 20255 N. 59th Avenue with EOS Fitness as a tenant for $20.7 million and Guidepost Montessori, a part of the Fletcher Heights Plaza complex for $3 million in July, 2019.

Central Peoria/Arrowhead Retail Submarket I Area Overview (150,000)

(100,000)

(50,000)

0

50,000

100,000

150,000

2016 2017 2018 2019 YTD

Absorption Deliveries

ABSORPTION & DELIVERIES (SF)

0

5

10

15

20

25

30

2014 2015 2016 2017 2018 2019 YTD

Ctrl Peoria/Arrowhead Phoenix

MONTHS ON THE MARKET



74

74



28,330

20,570

2,172

Traffic Count Profile8275 W Lake Pleasant Pkwy, Peoria, Arizona, 85382 Prepared by EsriRings: 1 mile radii Latitude: 33.66993

Longitude: -112.23872

Distance: Street: Closest Cross-street: Year of Count: Count:

0.03 W Lake Pleasant W Beardsley Rd (0.18000001 miles S) 2016 28,330

0.26 W Beardsley Rd N 82nd Ave (0.03 miles W) 2016 20,570

0.31 W Lake Pleasant N 86th Dr (0.11 miles W) 2016 19,853

0.34 N 81st Ave W Rose Garden Ln (0.06 miles N) 2016 4,399

0.45 N 87th Ave W Runion Dr (0.04 miles S) 2015 1,002

0.46 W Beardsley Rd N 81st Ave (0.13 miles W) 2015 23,012

0.49 W Westbrook Dr W Behrend Dr (0.05 miles NW) 2016 5,602

0.53 Oraibi Dr 82nd Ave (0.07 miles W) 2016 1,008

0.59 W Lone Cactus Dr N 84th Ln (0.02 miles W) 2016 1,312

0.60 W Lone Cactus Dr N 82nd Dr (0.07 miles W) 2016 1,566

0.66 N 83rd Ave W Lone Cactus Dr (0.09 miles S) 2015 10,554

0.68 N 87th Ave W Lone Cactus Dr (0.05 miles N) 2015 2,172

0.70 W Village Pkwy N Westbrook Dr (0.01 miles SW) 2014 1,157

0.72 Agua Fria Fwy W Union Hills Dr (0.61000001 miles S) 2016 155,000

0.76 W Lake Pleasant N 91st Ave (0.23999999 miles W) 2016 20,342

0.77 Agua Fria Fwy W Union Hills Dr (0.49000001 miles S) 2015 8,429

0.78 W Beardsley Rd N 91st Ave (0.18000001 miles W) 2016 12,289

0.83 W Deer Valley Rd N 81st Ave (0.08 miles E) 2016 29,976

0.86 N 83rd Ave W Village Pkwy (0.17 miles N) 2015 22,506

0.86 W Deer Valley Rd N 86th Ave (0.02 miles W) 2016 19,305

0.91 N Westbrook Pkwy W Piute Ave (0.05 miles SE) 2016 4,244

0.92 Agua Fria Fwy N 75th Ave (0.14 miles E) 2015 4,720

0.95 N 91st Ave W Potter Dr (0.03 miles N) 2015 6,425



1.00 W Village Pkwy W Kimberly Way (0.04 miles NE) 2010 1,216

Data Note:The Traffic Profile displays up to 30 of the closest available traffic counts within the largest radius around your site. The years of the counts in the database range from 2019 to 1963. Over 25% of the counts were taken between 2010 and 2019 and over 77% of the counts were taken between 2000 and 2019. Traffic counts are identified by the street on which they were recorded, along with the distance and direction to the closest cross-street. Distances displayed as 0.00 miles (due to rounding), are closest to the site. A traffic count is defined as the two-way Average Daily Traffic (ADT) that passes that location.Source: ©2019 Kalibrate Technologies (Q2 2019).

November 07, 2019

©2019 Esri Page 1 of 1

Demographics I Traffic Counts



Demographic and Income Profile8279 W Lake Pleasant Pkwy, Peoria, Arizona, 85382 Prepared by EsriRing: 1 mile radius Latitude: 33.67074


Summary Census 2010 2019 2024Population 12,059 13,135 13,645Households 4,471 4,871 5,048Families 3,367 3,614 3,731Average Household Size 2.69 2.69 2.70Owner Occupied Housing Units 3,514 3,681 3,847Renter Occupied Housing Units 957 1,189 1,202Median Age 38.6 39.8 40.6

Trends: 2019 - 2024 Annual Rate Area State NationalPopulation 0.76% 1.37% 0.77%Households 0.72% 1.36% 0.75%Families 0.64% 1.28% 0.68%Owner HHs 0.89% 1.69% 0.92%Median Household Income 2.79% 2.59% 2.70%

2019 2024 Households by Income Number Percent Number Percent

<$15,000 144 3.0% 114 2.3%$15,000 - $24,999 181 3.7% 147 2.9%$25,000 - $34,999 230 4.7% 189 3.7%$35,000 - $49,999 643 13.2% 574 11.4%$50,000 - $74,999 867 17.8% 829 16.4%$75,000 - $99,999 690 14.2% 683 13.5%$100,000 - $149,999 1,229 25.2% 1,345 26.6%$150,000 - $199,999 415 8.5% 536 10.6%$200,000+ 473 9.7% 631 12.5%

Median Household Income $86,664 $99,432Average Household Income $107,832 $123,991Per Capita Income $39,907 $45,778

Census 2010 2019 2024 Population by Age Number Percent Number Percent Number Percent

0 - 4 738 6.1% 742 5.6% 758 5.6%5 - 9 880 7.3% 864 6.6% 845 6.2%10 - 14 1,083 9.0% 945 7.2% 948 6.9%15 - 19 887 7.4% 825 6.3% 814 6.0%20 - 24 590 4.9% 695 5.3% 569 4.2%25 - 34 1,203 10.0% 1,652 12.6% 1,722 12.6%35 - 44 1,961 16.3% 1,753 13.3% 1,997 14.6%45 - 54 1,619 13.4% 1,743 13.3% 1,599 11.7%55 - 64 1,228 10.2% 1,437 10.9% 1,536 11.3%65 - 74 1,062 8.8% 1,294 9.9% 1,401 10.3%75 - 84 665 5.5% 865 6.6% 1,062 7.8%

85+ 143 1.2% 320 2.4% 394 2.9%Census 2010 2019 2024

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 10,660 88.4% 11,155 84.9% 11,302 82.8%Black Alone 220 1.8% 318 2.4% 380 2.8%American Indian Alone 37 0.3% 54 0.4% 62 0.5%Asian Alone 457 3.8% 660 5.0% 799 5.9%Pacific Islander Alone 27 0.2% 34 0.3% 38 0.3%Some Other Race Alone 301 2.5% 406 3.1% 465 3.4%Two or More Races 356 3.0% 509 3.9% 599 4.4%

Hispanic Origin (Any Race) 1,180 9.8% 1,563 11.9% 1,796 13.2%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2019 and 2024.

October 21, 2019




AreaStateUSA

Trends 2019-2024Trends 2019-2024

Ann

ual R

ate

(in

perc

ent) 2.5

2

1.5

1

0.5

0Population Households Families Owner HHs Median HH Income

20192024

Population by AgePopulation by Age

Perc

ent

14

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+

2019 Household Income 2019 Household Income

<$15K3.0%

$15K - $24K3.7%

$25K - $34K4.7%

$35K - $49K13.2%

$50K - $74K17.8%

$75K - $99K14.2%

$100K - $149K25.2%

$150K - $199K8.5%

$200K+9.7%

2019 Population by Race2019 Population by Race

Perc

ent

80

70

60

50

40

30

20

10

0White Black Am. Ind. Asian Pacific Other Two+

2019 Percent Hispanic Origin: 11.9%


October 21, 2019


Demographics I 1-Mile Radius





Summary Census 2010 2019 2024Population 87,669 98,418 104,388Households 35,727 39,558 41,745Families 24,512 26,810 28,196Average Household Size 2.44 2.47 2.48Owner Occupied Housing Units 26,147 28,762 30,779Renter Occupied Housing Units 9,580 10,796 10,966Median Age 43.0 45.4 45.4



<$15,000 2,078 5.3% 1,746 4.2%$15,000 - $24,999 2,083 5.3% 1,783 4.3%$25,000 - $34,999 2,430 6.1% 2,101 5.0%$35,000 - $49,999 5,093 12.9% 4,735 11.3%$50,000 - $74,999 7,384 18.7% 7,474 17.9%$75,000 - $99,999 5,855 14.8% 6,193 14.8%$100,000 - $149,999 8,036 20.3% 9,148 21.9%$150,000 - $199,999 3,354 8.5% 4,388 10.5%$200,000+ 3,245 8.2% 4,177 10.0%



0 - 4 4,339 4.9% 4,535 4.6% 4,898 4.7%5 - 9 5,124 5.8% 4,936 5.0% 5,030 4.8%10 - 14 6,287 7.2% 5,702 5.8% 5,720 5.5%15 - 19 5,972 6.8% 5,546 5.6% 5,393 5.2%20 - 24 4,510 5.1% 5,295 5.4% 4,929 4.7%25 - 34 8,682 9.9% 11,946 12.1% 13,028 12.5%35 - 44 11,421 13.0% 10,755 10.9% 12,722 12.2%45 - 54 13,058 14.9% 12,561 12.8% 11,455 11.0%55 - 64 10,726 12.2% 12,948 13.2% 13,026 12.5%65 - 74 8,352 9.5% 12,088 12.3% 13,469 12.9%75 - 84 6,073 6.9% 7,702 7.8% 9,986 9.6%

85+ 3,127 3.6% 4,403 4.5% 4,733 4.5%Census 2010 2019 2024

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 77,381 88.3% 83,650 85.0% 86,558 82.9%Black Alone 1,934 2.2% 2,767 2.8% 3,355 3.2%American Indian Alone 477 0.5% 627 0.6% 718 0.7%Asian Alone 3,410 3.9% 5,037 5.1% 6,245 6.0%Pacific Islander Alone 95 0.1% 124 0.1% 145 0.1%Some Other Race Alone 2,149 2.5% 2,982 3.0% 3,493 3.3%Two or More Races 2,222 2.5% 3,230 3.3% 3,874 3.7%



October 21, 2019




AreaStateUSA

Trends 2019-2024Trends 2019-2024

Ann

ual R

ate

(in

perc

ent)

2.5

2

1.5

1

0.5


20192024


Perc

ent

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


<$15K5.3%

$15K - $24K5.3%

$25K - $34K6.1%

$35K - $49K12.9%

$50K - $74K18.7%

$75K - $99K14.8%

$100K - $149K20.3%

$150K - $199K8.5%

$200K+8.2%


Perc

ent

80

70

60

50

40

30

20

10




October 21, 2019







Summary Census 2010 2019 2024Population 199,575 226,819 242,296Households 80,376 89,655 95,208Families 54,950 60,880 64,483Average Household Size 2.46 2.50 2.52Owner Occupied Housing Units 61,374 68,436 73,360Renter Occupied Housing Units 19,002 21,219 21,848Median Age 43.2 44.8 44.7



<$15,000 4,586 5.1% 3,920 4.1%$15,000 - $24,999 5,763 6.4% 5,023 5.3%$25,000 - $34,999 6,184 6.9% 5,415 5.7%$35,000 - $49,999 11,301 12.6% 10,694 11.2%$50,000 - $74,999 16,416 18.3% 16,677 17.5%$75,000 - $99,999 13,629 15.2% 14,586 15.3%$100,000 - $149,999 17,612 19.6% 20,271 21.3%$150,000 - $199,999 7,484 8.3% 9,810 10.3%$200,000+ 6,680 7.5% 8,811 9.3%



0 - 4 10,129 5.1% 10,904 4.8% 11,960 4.9%5 - 9 11,532 5.8% 11,880 5.2% 12,402 5.1%10 - 14 13,525 6.8% 13,173 5.8% 13,503 5.6%15 - 19 13,152 6.6% 12,349 5.4% 12,639 5.2%20 - 24 10,337 5.2% 11,689 5.2% 10,894 4.5%25 - 34 20,797 10.4% 27,803 12.3% 30,127 12.4%35 - 44 25,256 12.7% 26,051 11.5% 30,623 12.6%45 - 54 29,086 14.6% 27,611 12.2% 26,303 10.9%55 - 64 24,809 12.4% 29,275 12.9% 28,885 11.9%65 - 74 19,489 9.8% 27,983 12.3% 30,827 12.7%75 - 84 14,286 7.2% 17,909 7.9% 22,991 9.5%

85+ 7,179 3.6% 10,190 4.5% 11,142 4.6%Census 2010 2019 2024

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 174,943 87.7% 191,400 84.4% 199,385 82.3%Black Alone 4,675 2.3% 6,819 3.0% 8,353 3.4%American Indian Alone 1,193 0.6% 1,611 0.7% 1,869 0.8%Asian Alone 7,601 3.8% 11,167 4.9% 13,851 5.7%Pacific Islander Alone 216 0.1% 275 0.1% 316 0.1%Some Other Race Alone 5,892 3.0% 8,184 3.6% 9,643 4.0%Two or More Races 5,055 2.5% 7,364 3.2% 8,879 3.7%



October 21, 2019




AreaStateUSA

Trends 2019-2024Trends 2019-2024

Ann

ual R

ate

(in

perc

ent)

2.5

2

1.5

1

0.5


20192024


Perc

ent

12

10

8

6

4

2

00-4 5-9 10-14 15-19 20-24 25-34 35-44 45-54 55-64 65-74 75-84 85+


<$15K5.1%

$15K - $24K6.4%

$25K - $34K6.9%

$35K - $49K12.6%

$50K - $74K18.3%

$75K - $99K15.2%

$100K - $149K19.6%

$150K - $199K8.3%

$200K+7.5%


Perc

ent

80

70

60

50

40

30

20

10




October 21, 2019





Confidentiality Agreement

In connection with your consideration of a possible acquisition of the FLETCHER HEIGHTS PLAZA (the “Property”) you have requested certain non-public financial and other information concerning the Property. As a condition to your being furnished such information, you agree to treat said information, which is furnished to you (herein collectively referred to as the “Evaluation Material”) in accordance with the provisions of this letter. You additionally agree that nothing contained herein shall be construed to require Avison Young – Arizona, Ltd. (“AY”) or PROPERTY OWNER to disclose the content(s) of any Evaluation Material, nor does AY, make any representations as to the accuracy or reliability of the Evaluation Material.

The term “Evaluation Material” does not include information which (i) is already in your possession, provided that such information is not known by you to be subject to another confidentiality agreement; or (ii) becomes generally available to the public other than as a result of a disclosure by you or your directors, officers, employees, agents or advisors; or (iii) becomes available to you on a non-confidential basis from a source other than AY, provided that such source is not known by you to be bound by a Confidentiality Agreement.

You hereby agree that the Evaluation Material will be used solely for the purpose of evaluating a possible transaction, and that such information will be kept confidential by you and your advisors; provided, however that (i) any of such information may be disclosed to your directors, officers and employees and representatives of your advisors who need to know such information for the purpose of evaluating any such possible transaction, PROPERTY OWNER and yourself (it being understood that such directors, officers, employees and representatives shall be informed by you of the confidential nature of such information and shall be directed by you to treat such information confidentially), and (ii) any disclosure of such information may be made to which PROPERTY OWNER consents in writing. You agree that you will be responsible for any breach of this agreement by you, including any breach by any of your directors, officers, employees or advisors.

In order to help insure that the daily operational integrity of the project is maintained, you hereby agree not to contact employees or contractors of AY without the prior written authorization of AY. You will not contact any tenants or contractors of the FLETCHER HEIGHTS PLAZA without prior written authorization of AY. You will not tour or visit the FLETCHER HEIGHTS PLAZA without being accompanied by a representative of AY. You will not and will direct such directors, officers, employees, representatives and advisors not to disclose to any person either the fact that discussions or negotiations are taking place concerning a possible transaction, or any of the terms, conditions, or other facts with respect to any such possible transaction, including the status thereof.

In the event that you do not proceed with the transaction which is the subject of this letter within a reasonable time, you shall promptly redeliver to AY all written Evaluation Material and any other written material containing or reflecting any information in the Evaluation Material (whether prepared by AY or otherwise) and will not retain any copies, extracts or other reproductions in whole or in part of such written material.

This agreement is for the benefit of AY, and PROPERTY OWNER. And shall be governed by the laws of the State of Arizona.

Sincerely,

BrokerAvison Young - Arizona, Ltd., an Arizona corporation

The Evaluation Materials referred to in this Agreement shall be identified after the execution of this Agreement with the submission of the available evaluation material.

AGREED AND ACCEPTED:

(Potential Buyer) (Buyer Broker)

By: By:

Name: Name:

Its: Its:

Date: Date:

To request a copy of the full offering memorandum, please print this page and sign below. Email the signed CA to [email protected].

fletcher heights - loopnet · avison young is pleased to present for sale, fletcher heights plaza...

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