STNL Flower Child
Long Term Lease with Percentage Rent | Investment Grade Credit
Marketing description
Colliers is pleased to exclusively offer for sale a new construction single tenant net-leased Flower Child located within Mountain View Village – an ±85- acre mixed use destination that is part of a ±600-acre master development featuring additional residential, office, and retail, in the Salt Lake City, UT MSA.
The asset benefits from a 15-Year Lease with percentage rent, annual base rent and fixed CAM increases, including options, along with combined traffic counts in excess of ±50,943 VPD.
Mountain View Village has been drawing people 25 miles south of downtown Salt Lake with its vast amount of must-visit shops and restaurants. Notable national co-tenants include Harmons, Cinemark, Sephora, Nike, Anthropologie, Athleta, Lululemon, PetSmart, Kona Grill, Brandy Melville, and more. The project is in Phase III of development with additional retail, office, medical, hotel, and a future Trax Line transit line extension. Upon completion, Mountain View Corridor is projected to carry ±165,000 VPD.
The asset is surrounded by affluence with nearby neighborhoods that are well known for being impressive in size and finishes, servicing ±208,410 residents with an annual household income of ±$161,022 within a 5-mile radius.
Investment highlights
LONG TERM LEASE W/ PERCENTAGE RENT | INVESTMENT GRADE CREDIT
• Flower Child is owned by The Cheesecake Factory (NASDAQ: CAKE)
• New 15-Year Lease with Corporate Guaranty
• Percentage rent along with annual base rent and fixed CAM increases, including options
STRATEGICALLY LOCATED | REGIONAL RETAIL LOCATION
• Positioned within Mountain View Village, a ±1MM SF mixed-use destination that is poised to attract and cater to guests from far beyond the immediate area
• Benefits from frontage along 13400 South St. (±31,447 VPD) and is situated just east of the Mountain View Corridor, which is projected to carry ±165,000 VPD
• With multiple entry points off Bangerter Hwy and Mountain View Corridor, the center has been designed with access and visibility
• Surrounded by 100+ national retailers such as Harmons, Cinemark, Sephora, Nike, Anthropologie, Athleta, Lululemon, PetSmart, Kona Grill, Brandy Melville, and more
HIGH GROWTH TRADE AREA | STRONG SURROUNDING DEVELOPMENT
• Riverton, Utah is strategically located in one of the fastest growing trade areas in the U.S.
• Residential growth has significantly outpaced commercial growth – the Mountain View Village project and surrounding developments are well positioned to service an underserved market
• Mountain View Village is part of a larger 600-acre master development plan that will bring new residential, office, and retail development into the area along with a new Future Trax transit line station
EXCELLENT DEMOGRAPHICS | POSITIVE ECONOMIC GROWTH
• Located in a mature and dense trade area with ±208,410 residents with average household incomes of ±$161,022 within a 5-mile radius
• Mountain View Village has something for all ages, income levels, and interests and all tax-revenue generated will drive significant funds back into the community
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
