Plaza Del Sol

Plaza Del Sol

Cushman & Wakefield Retail Investment Advisors, as exclusive advisor, is pleased to present the opportunity to acquire Plaza Del Sol (the “Property”). Plaza Del Sol is a grocery anchored shopping center located at the southeast corner of US 60 Highway and Indian School Road in Phoenix, Arizona.

This 104,204 square foot shopping center sits on approximately 4.04 acres of land and is located in a densely populated in-fill area of Phoenix, Arizona. The Property offers eight points of ingress and egress and visibility to approximately 94,845 vehicles daily. The Property is currently 100% leased, to a diverse ‘daily-needs’ tenant mix led by Cardenas Markets (Los Altos Ranch Market), Cricket Wireless and Rent-A-Center to name a few.

Just announced June 13,2022, Apollo Funds (NYSE: APO) has announced they are in process of acquiring Cardenas Markets. This combined footprint will span nearly 80 stores across the western and mid-west United States with approximately $1.8 billion in combined revenues. The transaction is expected to be completed by Q3 2022.

The offering includes the 75,488 SF Los Altos Ranch Market grocery store plus 14,918 SF of warehouse space. The warehouse services all seven Los Altos locations in the Phoenix metro area, making this location vital and impossible to replicate. Additionally, nearly $1,000,000 in recent improvements have been made to the store.

Over 76% of the population within a one-mile radius of the Property are Hispanic in origin. The population swells to 202,641 within three miles, with a density of 7,168 people per square mile, compared to the Phoenix MSA, which has a population density of only 343.1 people per square mile.

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