RETAIL / SHOPPING CENTER BUYING CRITERIA

Arizona

1. Value-add component: typically 20-40% vacancy / discount based on condition
2. Size: 10,000-60,000 sq/ft.  Multi-tenant.
3. Price: $1,000,000 – $6,000,000 – sweet spot is $3-5M.
4. Location: Greater PHX (as long the real estate is solid and numbers are great)
5. Prefer at least one existing name brand tenant (franchises or regional is ok)
6. Prefer traffic counts over 15k Cars Per Day
7. Prefer built after 1970, single story
8. Prefer strong employment & median household income over $50k

West

1. Value-add component: typically 25-50% vacancy / discount based on condition or motivated seller
2. Size: 10,000-60,000 sq/ft
3. Price: $1,000,000 – $6,000,000 (prefer less than $100/ft)
4. Location: secondary and tertiary markets across the West & Midwest (excluding CA)
5. Prefer at least one existing name brand tenant (franchises or regional is ok)
6. Prefer traffic counts over 10k Cars Per Day
7. Prefer built after 1970, single story
8. Prefer strong employment & median household income over $50k