Fiesta Palms II 2111 S Alma School Rd

Tenant Vacancy: Immediate Upside Potential: Fiesta Palms II offers immediate upside
through the lease-up of ±2,502 SF of vacant in-line retail space, formerly occupied by
Hustle & Elevate Fitness. This provides a near-term value-add opportunity to stabilize the
property and increase cashflow. In addition, Seller will guarantee rent for this space at
$14.76/SF for six (6) months credited at closing – allowing a new buyer to collect income
while leasing the space.
Below Market Rents: Value-Add Opportunity: Additional value-add potential
is offered through the ability to increase in-place rents as tenants' leases
expire – some of which are significantly below market. The average rent per
square foot for tenants in the center is $15.73/SF, considerably lower than
the prevailing market rates for similar properties in this high-demand area
(Market Rent of between $18.00 - $22.00/SF). This discrepancy offers a unique
upside for investors, who can capitalize on future lease renewals and rent
adjustments to bring rates in line with the broader market, enhancing the asset's
revenue potential.
High-Traffic Intersection: Maximum Visibility Fiesta Palms II is located at the prominent
intersection of Alma School Road and Baseline Road, one of Mesa's busiest corridors,
which boasts traffic counts of over 51,000 vehicles per day. This high visibility ensures
maximum exposure for the shopping center's tenants, driving consistent foot traffic and
supporting long-term retail success. The proximity to key transportation routes, including
US 60, further enhances accessibility and desirability for both tenants and customers,
solidifying its position as a prime retail destination.
Excellent Demographics: Strong Consumer Base The center is located in the Dobson
Ranch submarket and near The Dobson Ranch Golf Course – which has consistently
been recognized by Golf Digest as one of the best public courses in the state, with a
5-mile radius boasting a population of over 438,026 residents and more than 171,000
households. The average household income in a 5-mile radius is approximately
$97,300, reflecting solid purchasing power and supporting strong retail demand. This
demographic strength creates a solid foundation for retail tenants seeking to tap into a
vibrant, affluent consumer base.
Multifamily Development Boom: The immediate vicinity of Fiesta Palms is
experiencing a surge in multifamily development, with several projects either
recently completed or currently under construction within a 5-mile radius.
Currently, there are over 2,300 units of multifamily under construction and
this influx of new residents will drive additional foot traffic to the center,
making it an even more attractive location for businesses looking to serve the
expanding community.