The NNN Market provides insight to the current NNN brokerage environment. I will highlight recent sales, market trends, off-market investment opportunities as well as discuss innovative idea's (technology) and how it's affecting commercial real estate.
Shadow anchored by Albertsons (NAP, but occupied since 1994), the Shops at Desert Springs is 100% leased to nine (9) retail, restaurant and service-oriented tenants
Five (5) tenants have occupied 79% of the GLA for eight (8) years or more
Located at a hard corner, signalized intersection, shadow anchored by the trade area’s dominant grocery store, the Shops at Desert Springs benefit from high visibility, ease of access, and exceptional traffic (±68,000 vehicles per day) during all times of the day
Current lease rates at the project average just $18.26 PSF per year providing the opportunity to capture future rental increases and maintain high occupancy compared to competing projects
Christie’s Appliance (±8,444 SF) has been at the property more than 11 years and Casey’s Hallmark (±4,776 SF) for nearly 15 years
Directly across from the Foothills Mall, a ±511,000 SF regional mall featuring over 90 retailers including: Ross, Saks Fifth Avenue OFF 5th, Old Navy Outlet, Nike Outlet, Party City, buybuy Baby, Barnes & Nobel, AMC Theaters, American Eagle, Aeropostale, GameStop, Applebee's, Melting Pot and others