Antelope Square Investment
Retail | 6.25% CAP | 82,695 SqFt
Marketing description
STRONG TRADE AREA Located in the heart of Layton, which has recently been rated one of the fasted growing metro areas and one of the top job markets in the state. The site is only 35 minutes out of Salt Lake and the newly remodeled Salt Lake International Airport.
SURROUNDING RETAILERS Located within the Antelope Square shopping center and in the heavily populated retail corridor of Layton. Surrounding Tenants include: Public Storage, Jack in the Box, Take 5 Oil Changers, Ford, O’Reilly Auto, RC Willey, McDonalds, Sherwin Williams and many more.
TRAFFIC COUNTS Located directly off of Antelope Drive, which has over 59,000 VPD, and has strong traffic counts from Main Street equaling over 17,000 VPD
Investment highlights
OVERVIEW Mountain West Commercial Real Estate is proud to present the opportunity to acquire Antelope Square. Subject property is an 82,695-square-foot multi-tenant shopping center. Subject property is located within Antelope Square, which presents a unique opportunity to acquire a 100% leased, institutional quality retail investment. The center benefits from exceptional co-tenancy, excellent visibility, quality construction, curb appeal, and a strong location in the heart of the Layton retail sector. Subject property features two corporately guaranteed Tenants; VASA Fitness and Dollar Tree. VASA Fitness signed a 15-year lease with three five-year options, already signing their first extension and Dollar Tree recently signed a new 10-year lease option options to extend another 20 years. With two strong corporate guarantees and the ability to potentially buy additional parcels in the Antelope Square, this asset provides an investor the opportunity to enter the Utah market with solid tenants and the ability to grow.
AVERAGE RENT $14.36 PSF
TWO STRONG CORPORATELY GUARANTEED LEASES VASA Fitness (not a publicly traded company) guaranteed by VASA Fitness, LLC with an initial lease term through January 2037. VASA Fitness is North Americas Largest affordable fitness centers with over 60 locations around the nation. Dollar Tree (NASDAQ:DLTR) guaranteed by Dollar Tree Inc, recently executed 10-year lease set to expire October 2034. Dollar Tree was founded in 1953 and las over 15,288 locations in 48 contiguous states and Canada with a market cap of $25.5 Billion.
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