Gateway Crossing - Institutional Quality Asset
Top-Ranked Boot Barn Anchors 100% Occupied NNN Retail at 6.30% Cap Rate
Investment highlights
• ±24,500 SF retail property leased to Boot Barn (NYSE: BOOT) and OX Korean BBQ.
• Fee Simple Ownership on ±1.48 acres.
• Class A building built in 2017 and strategically positioned within one of Avondale's premier retail corridors.
• This Boot Barn is top ranked in both the State, and the Country with rankings of 82nd percentile in Arizona and 84th Percentile in the Country.
• Boot Barn executed a 10-year lease extension after expanding its footprint by more than 7,500 SF.
• Boot Barn is a publicly traded tenant with over 500 locations nationwide.
• OX Korean BBQ is operated by an experienced restaurant group with multiple successful concepts throughout the Phoenix MSA. Additionally, the Tenant has a $15M LLC Guarantee.
• Both leases feature 10% rental escalations, providing investors with a hedge against inflation.
• Situated on one of the busiest intersections in the West Valley.
• Located within Gateway Crossing and directly across from Gateway Pavilions, collectively creating one of the West Valley's most established retail destinations.
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