5930 W Greenway Rd Glendale, AZ 85306

Glendale, SVN Desert Commercial Advisors, As The Exclusive

Price:
Address: 5930 W Greenway Rd
City: Glendale
State: AZ
Zip: 85306
Fee: No
Year: 1988
Provided By: Rofo

Description:

SVN Desert Commercial Advisors, as the exclusive representative of the Seller, is pleased to offer for sale Greenway Promenade, a stabilized neighborhood retail center in the west valley. While the center is currently 90% occupied the properties' average per square foot rental rate is 15% below the market average and is a fantastic value add opportunity. The property also includes two separate, out parcel freestanding buildings that could be sold after the acquisition, with one sporting a tenant on a new 10 year lease with 2% annual bumps starting in year 3. Additionally, income on this property actually increased over the course of 2020 with minimal rent relief and scheduled rent bumps occurring, per the tenancy schedule along with multiple renewals for 5+ years.

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