Prime Shopping Center with Upside - Call for Details
National Tenant Anchored Center | Major Upside | New Drive-Thru Pad
Marketing description
The Ovaness-Rostamian Group is pleased to offer Shaw Village, a stabilized neighborhood shopping center located in the high-growth city of Clovis, California, just north of Fresno. The center is anchored by dd’s Discounts (Ross Dress for Less), Bank of America (ATM Drive Thru), Rent A Center and features a brand-new Habit Burger & Grill drive-thru on a 20 Year ground-leased outparcel, alongside a strong mix of daily-needs retailers.
Ideally positioned at the signalized intersection of Shaw Ave. and Peach Ave. (46,607 VPD) and just off CA State Route 168 (96,152 VPD), Shaw Avenue is one of the primary east-west arterial streets serving the Fresno-Clovis Metropolitan area. Shaw Village offers excellent visibility and access within a dominant retail corridor.
The property includes ±77,299 SF of GLA on ±7.59 acres and is priced well below replacement cost. Two legal parcels offer future flexibility, including the potential to sell off the outparcel to reduce investment basis. Also, the former Big Lots space has short term occupancy allowing investors to realize substantial future upside by backfilling space with national tenants such as grocery or gym uses.
Located near Sierra Vista Mall, California State University, Fresno (24,000+ students), and Fresno Yosemite International Airport, the site is surrounded by national retailers such as Walmart, Home Depot, Costco, Target, Starbucks, and Raising Cane’s, generating consistent foot traffic. The trade area includes over 367,000 residents within a 5-mile radius, with average household income of $100,244, offering a rare opportunity to acquire a high-performing center in one of Central California’s most active markets.
Investment highlights
Prime Retail Location: Anchored by Investment-Grade Tenants Including dd’s DISCOUNTS (Ross Dress for Less – NASDAQ: ROST | Moody’s Rated A2), Rent-A-Center (Upbound Group, Inc. NASDAQ: UPBD | Bank of America (ATM Drive Thru) – NASDAQ: BAC | Moody’s Rated Aa2 and Coming Soon Habit Burger & Grill (Yum! Brands – NASDAQ: YUM | Moody’s Rated Ba3)
Stabilized Asset: 98% Leased With a Strong History of Long-Term Occupancy; Offered Below Replacement Cost
New Ground Lease Outparcel: Brand-New Habit Burger & Grill Drive-Thru on a 20 Year Ground Lease
Ideal Grocer Space: Short Term Lease in Former Big Lots Space Allows Investors Substantial Future Upside
Excellent Visibility & Access: Located at a Main Signalized Hard Corner With Multiple Ingress/Egress Points and Exceptional Street Exposure. Shaw Avenue is One of the Primary East-West Arterial Streets Serving the Fresno-Clovis Metropolitan Area
Strategic Proximity: Near California State University, Fresno (24,000+ Students), State Route 168 (96,152 Vehicles Per Day), and Sierra Vista Mall (700,000 SF Retail Center)
High-Traffic Retail Corridor: Strong National and Credit Tenant Synergy Within a Prominent Commercial Area
Robust Demographics: Dense Trade Area With 367,633 Residents Within a 5-Mile Radius and an Average Household Income of $100,244
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