Gorden Group

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NNN – Walgreens – Mesa, Arizona

1935 N Power Rd, Mesa, AZ 85205, USA


Read more about this closed sale here.

General Description

This offering includes a 15,525 square foot freestanding Walgreens strategically located at the busy intersection of North Power Road and East McKellips Rd in Mesa, AZ. This leasehold interest investment (improvements only) has 5+ years remaining of fixed term. The ground lease is co-terminus with the total lease term of the Walgreens lease, including all option periods. The store reports exceptional sale volume and has operated at this location since 1995. Each quadrant at this retail hub contains strong performing national retailers including Home Depot, Petsmart, Michaels, Target, McDonald’ s, Taco Bell, Bed Bath & Beyond, Famous Footwear, Chili’ s, and Safeway Food & Drug, which anchors the subject building.

Market Overview

The subject property is part of a 145,000 square foot grocery anchored shopping center that includes Safeway Food & Drug, Peter Piper Pizza, US Bank, and Firehouse Subs. The center is within walking distance of Mesa Community College and a block away from the Red Mountain 202 Freeway on-ramp/off-ramp. The northeast Mesa community is a rapidly growing community with a population of 72,965 within a 3 mile radius and an average household income of $67,981 within a 3 mile radius of the subject site. The site is just north of the 60 Freeway in Gilbert and directly east of downtown Phoenix, Tempe, and Scottsdale.