Talavi Towne Center II
Retail | 7.18% CAP | 61,302 SqFt
Marketing description
Lee & Associates Arizona Commercial Real Estate Services Company ("Exclusive Broker") is pleased to present the opportunity to purchase Talavi Towne Centre II (the "Property"), a ±61,302 square foot retail center situated on 5.67 acres of PAD-zoned land in the heart of Glendale, Arizona.
The Property is 100% leased to two tenants on a NNN lease basis. Ownership has completed several major capital improvements, including substantial tenant improvements, updated restrooms, fresh paint, a sealed and striped parking lot (July 2024), and a new 10-year roof (April 2026).
This two-tenant investment features a freshly executed 10-year NNN lease with Big Air, which occupies 51% of the square footage. The second tenant, The Pickleball Space, occupies the remaining 49%. At the close of escrow, ownership will execute a 5-year NNN lease with this tenant. Ownership will also consider a sale of the pickleball business, a joint venture, partnership, or other creative structure involving the business and/or the real estate and is open to exploring all potential ideas and solutions with a buyer.
Trampoline parks and indoor pickleball are two of the fastest-growing experiential retail categories nationally — both deliver in-person, non-discretionary-adjacent family spend that is structurally resistant to e-commerce displacement, with built-in repeat-visit models (memberships, leagues, parties, tournaments).
Investment highlights
- Fully leased, two-tenant family entertainment center anchored by Big Air (KA Trampolines) and The Pickleball Space
- Big Air operates under a long-term NNN lease (10-year term plus two 5-year options) with contractual rent increases throughout the term
- Located directly on Bell Road, one of the West Valley's highest-volume retail corridors, within the larger Talavi Towne Center power center (WinCo Foods, Walmart Supercenter)
- Trade area median household income of $99,748 supports premium experiential/discretionary spend
- Both tenants serve a recession-resilient, family-oriented customer base with limited e-commerce substitution risk
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