Value Add Grocery Anchored Center
Priced Below Replacement Cost
Marketing description
Commercial Retail Associates, Inc. is pleased to have been selected as the exclusive listing agent for the sale of the Blackstone-Barstow Center, a high-performing grocery anchored community shopping center located at the signalized high-traffic intersection of Blackstone and Barstow Avenues in Fresno, California. The center is comprised of ±130,769 square feet of commercial space situated on seven separate tax parcels totaling ±11.22 acres of land and is 97.4% leased to 8 tenants with over 78% of the GLA being occupied by national, regional or franchised tenants. The subject property is well-positioned on a stretch of North Blackstone Avenue that has a dense core of retail and commercial buildings. Neighboring tenants at or near the intersection include Target, Smart & Final, Burlington, Dollar Tree, AutoZone, Guitar Center, Chevron, McDonald’s, Taco Bell, Panda Express, and several national car dealerships and national hotel chains. This offering presents an investor with an opportunity to acquire a successful community shopping center located in one of California’s largest cities.
Investment highlights
Priced Below Replacement Cost at $134/sf
FoodMaxx Sales Rank #1 of 17 Save Mart/FoodMaxx Stores in Fresno-Clovis
Value Add through Lease Up of Vacant former Drive-Thru Restaurant
Over 78% of the GLA is Occupied by National, Regional or Franchised Brands
Dense Infill Area with Over 382,000 People Within a 5-Mile Radius
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