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930 E F l o r e n c e B l vdCasa G r a n d e , A r i z o n a 8 5 1 2 2
FORMER PEP BOYS PLAZA | OFFERING MEMORANDUM
EXCLUSIVELY LISTED BY
HENRY KERSONInvestment and Purchasing Advisor
REAL Companies
(914) 384 - 2475
TABLE OF CONTENTS
Investment Overview & Highlights
Property Photos & Aerials
Pricing & Operating Information
Market Overview
05
08
13
15
FOR M E R P E P B OY S P LA Z A – C A S A GR A NDE , A Z
FORMER PEP BOYS PLAZA | 2
NON- ENDORSEMENT &
DISCLAIMER NOTICE
Non-Endorsements
REAL Companies is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketingpackage. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship orendorsement by, said corporation of REAL Companies, its affiliates or subsidiaries, or any agent, product, service, or commercial listingof REAL Companies, and is solely included for the purpose of providing tenant lessee information about this listing to prospectivecustomers.
ALL PROPERTY SHOWINGS ARE BYAPPOINTMENT ONLY.
PLEASE CONSULT YOUR REAL COMPANIES AGENT FOR MORE DETAILS.
Disclaimer
THIS SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. REAL Companies is a service mark of Real Companies Inc.
© 2021 Real Companies. All rights reserved.
FORMER PEP BOYS PLAZA | 3
INVESTMENT OVERVIEW
The subject investment offers an investor the opportunity to acquire avalue-add shopping center in Casa Grande AZ. The property is 18,574Sq. Ft. situated on 1.19 Acres with a full block of frontage on FlorenceBlvd. Pep Boys will be vacating at the end of July, offering an investorthe opportunity to bring the majority of the rent back up to market.
Casa Grande is the southern-most city in the Phoenix MSA and islocated approximately 50 miles southeast of Phoenix andapproximately 40 miles northwest of Tucson. It is the largest city inPinal County and was founded in 1879. Home to more than 55,000people as of the 2020 census, Casa Grande has benefited from itsaffordable cost of living and proximity to Phoenix and Tucson. Manylarge companies call Casa Grande home, including Lucid Motors, thatbuilt the first ever solely electric vehicle production facility in 2020.
INVESTMENT HIGHLIGHTS
Value Add – Reset Majority of Space - Previously Under Market
38+% Extended within the Last Two Years
Main Trade Area Retail Corridor – 24,000+ Cars Per Day
Strong Demo’s – 10,000+ Ppl w/ Average HHI of 62,000+ in 1-Mile
Priced at Nearly Half of Replacement Cost – Appx. $115/ft
Casa Grande Experiencing Strong Growth - $5B in Commercial Development Anticipated to be Completed by 2024
FORMER PEP BOYS PLAZA | 5
FORMER PEP BOYS PLAZA | 13
SUMMARY
Price $2,150,000
Number of Suites 3*
Price Per SqFt $124.91
Gross Leasable Area (GLA) 18,574 SF
Lot Size 1.19 Acres
Year Built/Renovated 1972 / 2019
PRICING AND OPERATING INFO
RENT ROLL SUMMARY
Tenant Name Suite Square Feet
Bldg % Share Comm. Exp.
Annual Rent/
SF
Total Rent Per
Month
Total Rent Per
Year
Changes On
Changes To
Lease Type
Expense Reimbursement
Renewal Options &
Option year Rental Info
Former Pep Boys 1 11,440 61.6% $12* $11,440* $137,280* TBD TBD NNN $27,627* Pro-Forma
Liquor Factory and Bar 2 4,500 24.2% 6/1/14 6/1/24 $9.33 $3,500 $42,000 N/A N/A NNN $10,868 No Options or Increases
Quick Clean Laundromat 3 2,634 14.2% 1/1/11 1/31/31 $10.07 $2,210 $26,520 Jan-2022 $27,183 NNN $6,3622, 5-Yr
Options2.5%Annually
Water Station Kiosk 0 0.0% 6/26/17 9/22/23 $0.00 $400 $4,800 N/A N/A Gross $0
Total 18,574 $11.34* $17,550* $210,600* $44,857
* - Former Pep Boys Space Numbers are Pro-Forma
* - Largest Space (Former Pep Boys) Is Devisable
FORMER PEP BOYS PLAZA | 13
FOR LEASE INFO
FOR LEASE SUMMARY
Rate $12 PSF
Number of Suites 1-7
TI Allowance Negotiable
GLA Available 11,440 SF
Auto Bays, Front Office and Waiting Area 2,440 SF
Former Parts Retail Dimensions 72’ X 126’
Appx. 24’
MarketOverview
58k+Population of Casa Grande
27.36%Popualtion Growth Since 2010 Census
47Miles Outside of Phoenix MSA
$59,102Average Household Income
FORMER PEP BOYS PLAZA | 15
LOCATION OVERVIEWCASA GRANDE, ARIZONA
They often say that you can get almost anywhere in Casa Grande in 15minutes or less, which is part of the renowned small-town appeal.However, it’s really Casa Grande’s friendly sense-of-the-neighborhoodand commitment to the community that makes the city feel like homeand brings visitors back each year.
The city provides a wide range of services including excellent schools,outstanding medical care, employment opportunities and affordablehousing. City leadership has its finger on the pulse of the community,engaging residents in the process of weighing in on the 10-year planfor Casa Grande as it’s created, to assure that those who live in CasaGrande will have their most valued amenities available.
TOP EMPLOYERS
EmployerNumber of
Employees
Casa Grande School District 1,076Banner Casa Grande Medical Center 900
Walmart Distribution Center 574Hexcel Corporation 550
Frito-Lay, Inc. 450City of Casa Grande 444
Abbott Laboratories/Ross Products 435Walmart Supercenter 340
National Vitamin Company 270Franklin Foods 175
FORMER PEP BOYS PLAZA | 16
ECONOMIC IMPACT PROJECTS AND INFO
ATTESSSA - ARIZONA INTERNATIONALRACEWAY
Attesa’s 2,355 Acre, 16-Turn, 2.65 Mile Track Scheduled to CommenceConstruction Immediately Following County Approval of AssuredWater Supply.
Click Here for Full Project Overview
LUCID MOTORS VEHICLE FACTORY
Lucid Motors Completed First Ever Electric Vehicle Factory – 590Acres, 999,000 Sq. Ft. –5.1M Sq. Ft., $5B Total Investment at FullBuildout Expected by 2028.
Click Here for Full Project Overview
HERE’S WHY PINAL COUNTY IS POISED FOR BOOM IN DEVELOPMENT
“Pinal County sits at the epicenter of two big cities and is the point ofintersection where all infrastructure in the state comes through,” saysJackob Andersen, president and CEO of Saint Holdings, the developerbehind some of the county’s largest land deals, including two massiveindustrial parks.
Click Here for Full Article
FORMER PEP BOYS PLAZA | 17
D E M O G R A P H I C
S N A P S H O T
Population
Year 1 Mile 3 Miles 5 Miles
2010 10,407 36,302 48,655
2020 11,206 40,804 56,304
2025 11,564 43,714 61,499
Average Household Income
Year 1 Mile 3 Miles 5 Miles
2020 $62,716 $62,789 $66,199
2025 $66,500 $68,075 $72,152
FORMER PEP BOYS PLAZA | 18
HENRY KERSONInvestment and Purchasing AdvisorREAL Companies (914) 384 - [email protected]
CONTACT INFORMATION