* Irreplaceable Retail Shopping Center – “Trophy” investment asset in the heart of Summerlin at the Southwest corner of S. Fort Apache Rd and W. Charleston Blvd. This center benefits from ±162,000 affluent residents within 3-miles with an average household income exceeding $114,000.
* Badlands Residential Development – Fort Apache Commons sits less than one-half mile from the recently approved 1,480-unit residential development from Lennar Homes driving an additional ±$176,000,000 of annual future demand to this center.
* Immediate Leasing Upside – At 80.6% current occupancy, 19.4% of the property (9,875 SF) of the property is available for lease, providing an immediate opportunity to add value and increase
NOI.
* Strong Historical Occupancy – 54% of the in place tenancy at Fort Apache Commons has operated at the site for 10 years or more with Square Colour Salon approaching 15 years, proving the strength of the location and loyalty of the current occupants.
* Owner/User Investment Opportunity – Fort Apache Common’s 19.4% current vacancy (9,875 SF) within the office portion provides for an immediate owner/user occupancy opportunity.
* Below Market Assumable Non-Recourse Loan – The offering includes the ability to assume in-place debt at an attractive interest rate of 4.27% with more than 4 years remaining until maturation in November 2029.