| For leasing information click here |
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| Location |
6150 S 35th Avenue, Phoenix, AZ 85041 |
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| Acquisition Date |
September 2010 |
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| Total Investment |
$8,500,000 |
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| Square Feet |
65,529 along with an improved pad |
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| Tenants Include |
Office Max, Jack in the Box, Church’s Chicken |
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| Highlights |
| Non-performing note purchased at 65% of physical replacement cost |
| Face value on the note of $15.4M |
| Leased with 71% occupancy at date of purchase |
| WalMart shadow anchor |
| Area population growth of 14% per year for 10 years |
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| Disposition |
| Assumed title to the property through deed-in-lieu of foreclosure |
| Sold Jack in the Box as a separate triple-net lease at a cap rate of 6.5%. |
| Sold Office Max as a separate triple-net lease at a cap rate of 9.6%. |
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