At Home - Tempe, AZ_Property for Sale
At Home - Tempe, AZ_Property for Sale
1050 W Elliot Rd, Tempe, AZ, 85284-1111, US

At Home - Tempe, AZ

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in an 87,900 square foot freestanding, single-tenant At Home retail property located at 1050 W Elliot Road, Tempe, AZ (“Property” or “Asset”). Founded in 1979, At Home is a unique home décor concept that offers up to 45,000 home décor items for every household room. The Property is shadow anchored by Walmart, the largest supermarket chain in the world.


The Asset is 100% leased to At Home Stores LLC (“At Home” or “Tenant”) with 10.8 years of remaining primary lease term, annual rent increases, four, five-year renewal options and a corporate guaranty. Initially constructed as a build-to-suit for the Tenant in 2019, the Tenant has a proven commitment to the site by signing a 15-year, absolute NNN lease with zero landlord responsibilities.


The Property is located just 7 miles from downtown Phoenix, in the Groves Shopping Centers, which sees 3.6 million annual visitors and is home to national anchors Walmart and Home Depot. The Property also has frontage to 59,000 VPD along Elliott Road, and in the five-mile radius surrounding the property, 292,000 residents earn an average HH income of over $113,000, well above the national average.


This rare opportunity allows investors the ability to acquire an established retail asset with a passive, long-term and growing income stream and an opportunistic yield located in the booming Phoenix MSA.


...

Attributes

Building area net
8,166 m²
Occupancy
100%
Year built
2019
Land area net
2.39 ha
WAULT
10.8 years
Asking price
IDR 226,835,200,000
Cap rate
7.25%

Media

Investment Highlights

  • 2019 Build-to-Suit Construction 7 Miles from ASU Campus (145K Students)
  • 10.7+ Years of Term Remaining with Annual Rent Escalations
  • Shadow Anchored by Walmart, the largest supermarket chain in the world
  • $115K Average HH Income within a 3-Mile Radius
  • +270K Residents within a 5-Mile Radius
  • #2 MSA in the Country for Employment Growth
  • Combined +69,000 VPD Frontage along W Elliot Road and S Hardy Drive
At Home - Tempe, AZ 4_Property for Sale
At Home - Tempe, AZ 4_Property for Sale

Contact brokers

At Home - Tempe, AZ (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
29 Feb 2024