19th & Northern Marketplace_Property for Sale
19th & Northern Marketplace_Property for Sale
8040 North 19th Avenue, Phoenix, AZ, 85021, US

19th & Northern Marketplace

Asset description

JLL has been engaged as the exclusive advisor to extend to qualified investors the opportunity to acquire 19th & Northern Marketplace (the “Property”), a 98,087 square-foot Sprouts (SFM: NASDAQ) anchored shopping center in Phoenix, AZ. Situated at the high-traffic intersection of 19th Avenue (with 26,984 vehicles per day) and Northern Avenue (with 33,971 vehicles per day), this property is strategically positioned in the dynamic N Phoenix/I-17 retail submarket. It is conveniently located only 4 miles away from Grand Canyon University and 3 miles away from Metrocenter, which is undergoing redevelopment to bring ±2,600 multi-family units and ±383,000 SF of commercial space. Additionally, the property benefits from its prime location in a densely populated infill area, with approximately 449,790 residents and 70,930 multi-family units within a 5-mile radius. Currently, 19th & Northern Marketplace is 98.4% occupied by a diverse mix of both local and national tenants, including grocery stores, pharmacies, health/wellness establishments, restaurants, and other complementary businesses. This presents an opportunity to acquire a well-established neighborhood center with a credit grocery anchor in a dense infill area.

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Attributes

Building area net
9,113 sm
Occupancy
98.4%
Year built
1975
WALT
12 years
Investment strategy
Core Plus

Media

Investment highlights

  • High Traffic Location With Excellent Visibility
  • Below Market In-line Shop Space Rents
  • Long-Term Security With Grocery & Drug Anchor
  • 12.0 Year Weighted Average Lease Term
  • Expansive Residential Community with Strong Connectivity in a Dense Infill Location
  • Prominent Office and Industrial Employment Base
  • Strategic Location Advantage: Proximity to Metrocenter Mall Redevelopment
  • Long Term Opportunity Zone Potential
19th & Northern Marketplace 4_Property for Sale
19th & Northern Marketplace 4_Property for Sale

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19th & Northern Marketplace (0 Properties)

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Last updated
Jul 16, 2024