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Heritage Plaza Corner 1880 14th Ave SE 39,213 SF 50% Leased 4-Star Retail Building Albany, OR 97322 $6,848,100 CAD ($174.64 CAD/SF) 2.95% Cap Rate
Investment Highlights
- 50% leased investment or owner-user opportunity
- 2.7M Visitors @ Heritage Plaza; National tenant synergy
- Abundant parking
- 10-year NNN lease
- Investor value add exit option; Owner user exit option
Executive Summary
Heritage Plaza is a master-planned community comprising 12 buildings with 220,000+ sq. ft. covering 22 acres built adjacent to Heritage Mall, a regional mall that offers a diverse range of retail, dining, and entertainment options to the residents of Albany and surrounding areas. The subject property is located at the southwest corner of Heritage Plaza with convenient access to on- and off-ramps intersecting Interstate 5 (I-5) and connection to 70,764 VPD.
The property has an unmatched investment profile in this submarket, as both owner-users and pure-play investors are viable purchasers of this asset. Visitor traffic has been growing rapidly with the announcements of new, prominent retailers establishing themselves within Heritage Plaza.
The community center now attracts over 2,700,000 annual visitors due to excellent retail synergies among the tenants. Anchor tenants include Planet Fitness, Marshalls, Safeway, and Grocery Outlet, with support from Burger King, Applebee’s, Del Taco, Xfinity, and many others.
Property Facts
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Finance and Insurance
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Assurant est l'un des principaux fournisseurs mondiaux de solutions complètes de gestion des risques pour les secteurs de l'automobile, du style de vie et de la protection du logement. Ils aident les entreprises à gérer les risques de dommages matériels, de responsabilité, de perte financière, de vol et de catastrophes naturelles. Ils conçoivent des produits d'assurance, de protection et des services de soutien qui aident les entreprises à offrir une expérience client de qualité supérieure et à inspirer une plus grande fidélité de la clientèle. Leurs équipes combinent l'intelligence numérique et les connaissances humaines expertes pour offrir le soutien et la protection dont les gens ont besoin pour tirer pleinement parti du monde connecté. Assurant remonte à 1892, lorsque la LaCrosse Mutual Aid Association a commencé à offrir une assurance-invalidité. Lacrosse changea plus tard son nom pour Time Insurance Company.
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Nearby Major Retailers
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Heritage Plaza Corner | 1880 14th Ave SE
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