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6/01/18
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Institutional Property Advisors (IPA) has been awarded the sales listing for Big Curve Center, a 128.1k sf, mixed-use retail and medical-anchored community center in Yuma, AZ. The price is $25.8 mil with new acquisition financing available at 4.8%, interest only.
::img11946:“Drawing from a sizable trade area of more than 168,000 people within a 30-minute drive, Big Curve is a focal point for necessity-based goods and services,” says IPA’s Bill Rose. “The center’s major tenants include Albertson’s, the regional VA Clinic, Get Air Indoor Trampoline Park, Prime Care, Michaels, Applebee’s, Carl’s Jr., Starbucks and Washington Federal. Big Curve has maintained consistent cash flow with long-term occupancies estimated at an average of 13.8 years providing reliable rent growth. Credit tenants comprise 61% of the gross leasable area.”
Rose is representing the seller, a California-based private client. Ryan Sarbinoff of Marcus & Millichap’s Phoenix office is the firm’s broker of record in Arizona.
Since its opening in 1981, Big Curve Center has been improved and enhanced. Situated 1.5 miles from Yuma International Airport and Marine Corps Air Station Yuma (MCAS Yuma), the property has approximately 2.3k sf of frontage along Business Loop Interstate 8. There are more than 58,600 households with an average annual household income of approximately $57,700 within a 30-minute drive. Major employers in Yuma include MCAS Yuma, U.S. Army Yuma Proving Ground, the Yuma Regional Medical Center, and the Yuma School District.
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