Investment Summary
Price | $2,365,000 |
Cap Rate | |
NOI | |
Lease Term | Various |
Lease Type | NNN |
Rental Increases | Various |
Year Built | 2018 |
Building Size | 5,250 SF |
Lot Size | 0.56 Acres (24,285 SF) |
Status | Under Contract |
Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEWLY CONTRACTED BUILDING WITH NOTABLE, NATIONAL TENANTS
» Aspen Dental is on a 10-year lease and CE Workforce (T-Mobile) is on a 7-year lease
» CE Workforce has a systematic growth strategy and is backed by the private equity company Grain Management, with $1.2 billion under management
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 25,470 vehicles per day directly in front of the property on Boll Weevil Circle, Enterprise’s primary retail corridor
» Outparcel to Westgate Center, a shopping plaza featuring notable retailers like Piggly Wiggly, Sears Hometown Store, Fred’s, Beef ‘O’ Brady’s, Verizon, Ruby Tuesday, Rent-A-Center, Regions Bank, and many others
» Directly across from Enterprise Shopping Center, tenanted by JCPenney, Big Lots, T.J. Maxx, Cato, Hibbett Sports, Burkes Outlet, and Cricket Wireless
» Within walking distance of shopping centers anchored by Walmart Supercenter, Publix, and Harbor Freight Tools
CENTRAL LOCATION
» Less than two miles from downtown Enterprise and Enterprise State Community College, which has 2,333 students at its main Enterprise campus
» Just over one mile from Hillcrest Elementary School (814 students) and just over two miles from Enterprise High School (2,162 students)
» Minutes from Fort Rucker, which serves as an economic hub for the surrounding region
NEW 2018 CONSTRUCTION
» High-quality construction completed in 2018
» Features tenants’ latest prototypes and store designs
» New building, limiting near-term deferred maintenance or capital costs
Property Description
SOLD
The property is conveniently located on Boll Weevil Circle, Enterprise’s primary retail corridor, with excellent visibility and access to 25,470 vehicles per day directly in front of the property. The property is outparcel to Westgate Center, a shopping plaza featuring notable retailers like Piggly Wiggly, Sears Hometown Store, Fred’s, Beef ‘O’ Brady’s, Verizon, Ruby Tuesday, Rent-A-Center, Regions Bank, and many others. Additionally, the property is directly across from Enterprise Shopping Center, tenanted by JCPenney, Big Lots, T.J. Maxx, Cato, Hibbett Sports, Burkes Outlet, and Cricket Wireless. The property is also within walking distance of shopping centers anchored by Walmart Supercenter, Publix, and Harbor Freight Tools. Other major retailers in the nearby area include Walgreens, Office Depot, Dollar General, Planet Fitness, McDonald’s, Sonic, Rite Aid, and several car dealerships.
The property is centrally located less than two miles from downtown Enterprise and Enterprise State Community College, which has 2,333 students at its main Enterprise campus. The property is also just over one mile from Hillcrest Elementary School (814 students) and just over two miles from Enterprise High School (2,162 students). Additionally, the property is approximately six miles from Fort Rucker, which serves as an economic hub for the surrounding region.