EXCLUSIVELY PRESENTED BY Center Pointe Deer Valley · Neither owner nor SRS represents that this...

EXCLUSIVELY PRESENTED BYInvestment Opportunity

NWC Pinnacle Peak & 19th Ave | Phoenix, AZ

Exclusively Listed By: Sean Thomas | 602.682.6088

PRICE: $3,395,000

Center Pointe Deer Valley

Business Disclosure & Confidentiality AgreementThis executive summary is not intended to constitute an offer, but is merely a solicitation of interest with respect to a possible sale of Center Pointe Deer Valley located on the NWC of Pinnacle Peak & 19th Ave.

This executive summary has been prepared by SRS and has been approved for distribution by the owner. Although effort has been made to provide accurate information, neither owner nor SRS can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser.

Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor SRS represents that this offering summary is all inclusive or contains all of the information a purchaser may require.

All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in effect at the time the evaluations were undertaken. They do not purport to reflect changes in the economic performance of the property or the business activities of the owner since the date of preparation of this executive summary. The projected economic performance of the property, competitive submarket conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.

Environmental matters can and do have dramatic impact not only on the physical conditions of a property but also on its economic performance and underlying value. If such substances exist, special governmental approvals and permits may be required. Purchasers are encouraged to engage qualified professionals to determine whether hazardous or toxic substances or wastes, including asbestos, PCB’s, petrochemicals or other contaminants or conditions are present at the property. Neither SRS nor the owner performs or conducts investigations or analyses of environmental matters. It is the sole responsibility of qualified purchasers to review all applicable laws and regulations applying to either the existence, transportation or removal of hazardous materials and to prudently have an on site investigation and inspection of the property conducted. The cost and removal of hazardous materials may be substantial; therefore, SRS strongly encourages qualified purchasers to engage legal counsel and appropriate technical professionals if any of these conditions are discovered during the inspection. No person, firm or entity is authorized to make or submit offers on behalf of anyone or divulge or reproduce the contents of this executive summary or discuss the availability or the purchase of the property without first having registered in writing the name of the party receiving the material and received written authorization to proceed from SRS. The owner and SRS reserve the right, at their discretion, to reject any or all expressions of interest with any party at any time with or without notice. The terms and conditions stated herein apply to all sections of the executive summary.

SRS is acting as exclusive disposition agent, and the owner reserves the right to withdraw the property from the market, to change the price and terms or sell the property at any time without notice being given.

This information has been secured from sources believed to be reliable, but SRS makes no representations or war-ranties, expressed or implied as to the accuracy of the in-formation. References to square footage or age are ap-proximate. Buyer must verify the information and shall bear all risk and responsibility for any inaccuracies.

Sean ThomasFirst Vice President - Investment [email protected]

OFFERING SUMMARY

• Executive Summary

• Investment Summary

• Rent Roll

• Income Statement

• Property Site Plan

• Tenant Profiles

• Retail Trade Area Aerial

• Demographics

This information has been secured from sources believed to be reliable, but SRS makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and shall bear all risk and responsibility for any inaccuracies. SRS

Exclusively Presented By

Center Pointe Deer ValleyNWC Pinnacle Peak & 19th Ave | Phoenix, AZ Executive Summary

SRS has been retained as the exclusive representative for the sale of the Center Point Deer Valley retail strip center. This Class- A property is located in the prestigious Deer Valley Airpark within Phoenix’s North Central retail submarket. This area hosts a heavily populated and dense daytime employment base and holds the second lowest office vacancy rate in metro Phoenix at 8 percent. Built in 2008, this center is approximately 12,980 square feet and offers a diverse tenant mix consisting of both local and national credit tenants.The asset encompasses part of a masterplanned mix-use development that includes a Hilton Hotel and top quality office buildings. The retail storefronts face toward the south, with approximately 275 feet of frontage along West Pinnacle Peak Road.



Center Pointe Deer ValleyNWC Pinnacle Peak & 19th Ave | Phoenix, AZ Investment Summary

LOCATION HIGHLIGHTS:

• Located in the Deer Valley Airpark trade area• Heavily populated daytime employment base• Excellent access to Loop 101 & Interstate 17

PROPERTY SUMMARY:

PROPERTY TYPE: Center Pointe Deer Valley

PROPERTY ADDRESS: 1930 West Pinnacle Peak Road Phoenix, AZ 85027

LIST PRICE: $3,395,000

CAP RATE: 7.17%

NOI: $243,276

PARCEL: 210-05-934

BUILDING SIZE: 12,980 SF

YEAR BUILT: 2008

INVESTMENT HIGHLIGHTS:

• 100 % occupied in low-vacancy submarket• Excellent visibility, signage, access, and ample parking• Well maintained with a strong pride of ownership



Center Pointe Deer ValleyNWC Pinnacle Peak & 19th Ave | Phoenix, AZ Rent Roll

TENANT GLA (SF)ANNUAL

BASE RENTMONTHLY

BASE RENT RENT / SFLEASE

COMMENCEMENTLEASE

EXPIRATIONLEASETYPE OPTIONS

Mediterranean Market 2,758 $43,200 $44,400

$3,600 $3,700

$15.66 $16.10

6/12/2009 12/31/2017 Gross 1/3 years

Aqua Tots 4,884 $136,752 $139,194 $139,194 $139,194

$11,396 $11,600 $11,600 $11,600

$28.00 $28.50 $28.50 $28.50

12/16/2009 4/30/2020 NNN -

Little Angels School 2,200 $35,432 $36,385 $37,582 $38,700

$2,953 $3,032 $3,132 $3,225

$16.11 $16.54 $17.08 $17.59

10/4/2014 7/31/2020 NNN -

AZ Best Cleaners 900 $24,000 $25,200 $26,400

$2,000 $2,100 $2,200

$26.67 $28.00 $29.33

12/20/2012 1/31/2019 Gross -

Our Kitchen to Yours 2,238 $39,552 $40,740 $41,952 $43,212

$3,296 $3,395 $3,496 $3,601

$17.67 $18.20 $18.75 $19.31

3/1/2015 9/30/2020 Gross 1/5 years

Total Size (SF) 12,980 $278,936 $23,245

RENT TYPE BREAKDOWNTotal Size 12,980 SFOccupied 100% 12,980 SF

% NNN 55% 7,084 SF% Gross 45% 5,896 SF

COMMENTS:• Our Kitchen has 3 months of free rent: January 2017, January 2018, and January 2019.

This adjustment is accounted for in marketed NOI.• Aqua-Tots rent reduced by $235.46 monthly because of unused landlord TI contribution.

This adjustment is accounted for in rent roll number and in marketed NOI.



Center Pointe Deer ValleyNWC Pinnacle Peak & 19th Ave | Phoenix, AZ Income Statement

COMMENTS:• Our Kitchen has 3 months of free rent: January 2017, January 2018, and January 2019.

This adjustment is accounted for in marketed NOI.• Aqua-Tots rent reduced by $235.46 monthly because of unused landlord TI contribution.

This adjustment is accounted for in rent roll number and in marketed NOI.• The Aqua-Tot Tenant Improvement total was $271,744.80. The cost was split 75% landlord and 25% tenant.

Total Square Feet 12,980Available Square Feet 0Occupancy 100%INCOME CURRENT

IN-PLACEEstimated Scheduled Base Rent $272,814

Total Expense Reimbursements $36,103

Gross Potential Income $308,917

OPERATING EXPENSESCommon Area Maintenance $1.78 $23,074 Real Estate Taxes $2.12 $27,474 Property Insurance $0.24 $3,093 Management $0.92 $12,000 TOTAL OPERATING EXPENSES $5.06 $65,641 NET OPERATING INCOME $243,276 OFFERING PRICE $3,395,000 CAPITALIZATION RATE 7.17%PRICE PER SQUARE FOOT $261.56



Center Pointe Deer ValleyNWC Pinnacle Peak & 19th Ave | Phoenix, AZ Site Plan



Center Pointe Deer ValleyNWC Pinnacle Peak & 19th Ave | Phoenix, AZ Tenant Profiles

Tenant Name: Mediterranean Market and Café

Lease Commencement: 6/12/2009

Lease Expiration: 12/31/2017

Gross Leasable Area (GLA): 2,758

Origional Term: 3,275 Days

Option Term: 1 X 3 Years

Pro Rata Share of Project: 21%

Headquartered: Phoenix, Arizona

No. of Locations 1

Website www.olivetreemarketandgrill.com

Tenant Name: Aqua-Tots Swim School





Option Term: None


Headquartered: Mesa, Arizona

No. of Locations 70

Website http://www.aqua-tots.com/




Tenant Name: Little Angels Montessori School





Option Term: None



No. of Locations 1

Website http://www.littleangelsmontessworiaz.com

Tenant Name: AZ Best 1 Hour Cleaners



Gross Leasable Area (GLA): 900


Option Term: None



No. of Locations 2

Website http://www.abconehourcleaners.com/




Tenant Name: Our Kitchen to Yours





Option Term: 1 X 5 Years



No. of Locations 1

Website www.ourkitchentoyours.com



Center Pointe Deer ValleyNWC Pinnacle Peak & 19th Ave | Phoenix, AZ Retail Trade Area Aerial



Center Pointe Deer ValleyNWC Pinnacle Peak & 19th Ave | Phoenix, AZ Demographics

1 Mile 3 Mile 5 Mile

2,075 54,984 184,290 51.2% 50.8% 49.7% 48.8% 49.2% 50.3% 32.9 33.8 35.1

13,493 54,256 85,064 787 3,263 6,624

$75,448 $55,666 $56,464 $38,863 $27,341 $29,114

$78,936 $69,284 $73,273

1,129 21,475 72,875 1.83 2.55 2.52

487 12,577 44,621 642 8,898 28,254 100 2,502 7,302

83.9% 78.6% 79.5% 4.0% 3.1% 3.3% 4.8% 7.2% 5.3% 3.3% 6.1% 6.9%

10.8% 16.1% 17.6%

POPULATION: 2015 Total Population Male Population Female Population Median Age Employees Establishments

INCOME: 2015 Median HH Income Per Capita Income Average HH Income

HOUSEHOLDS: 2015 Total Households Average Household Size

HOUSING: 2015 Owner Occupied Housing Units Renter Occupied Housing Units Vacant Housing Units

RACE: 2015 White Black Asian & Pacific Islander Other

ETHNICITY: 2015 Hispanic Non-Hispanic 89.2% 83.9% 82.4%

Source: Esri Business Anaylst Online

www.srsre.com

SRS3131 E. Camelback Rd., Suite 110

Phoenix, AZ 85016602-682-6000

Sean ThomasFirst Vice President - Investment Sales602-682-6088 | [email protected]

EXCLUSIVELY PRESENTED BY Center Pointe Deer Valley · Neither owner nor SRS represents that this...

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