Union Crossing 4300-4410 W Union Hills Dr

Investment Highlights

Value-add investment with upside opportunities offered at below replacement cost pricing Easily accessible to 1.25 million residents within a 20-minute drive time Diverse tenant mix caters to local and regional clientele Located in a densely populated, middle- income residential area near Loop 101 and I17 Anchor tenant is among the top ethnic grocers in metro Phoenix and attracts a regional draw Architectural elements provide a timeless, worry-free design with a wide-open floor plan

Executive Summary

The Warner Retail Team at Colliers is pleased to present the opportunity to acquire Union Crossing, a grocery-anchored neighborhood retail center at the northwest corner of 43rd Avenue and Union Hills Drive in Glendale, Arizona, surrounded by well-established neighborhoods, schools, and parks. The 97% leased center is anchored by Asiana Market, an ethnic grocer catering to Asian and other ethnic communities. The 22 additional tenants offer a variety of uses including six restaurants, retail merchandisers, and personal & professional services, all of which cater to both local as well as regional clientele.The "Value-Add" components of this investment include a greatly below-market rent on the junior anchor space, enabling an investor to rapidly increase revenue within the first few years of ownership. Federico's is separately parceled and could be sold at a low cap rate at any time. Union Crossing is positioned in a densely populated, middle-income residential community conveniently located near Loop 101 and Interstate 17. These freeways connect the north and west valleys of metro Phoenix and provide easy access to the Property, especially for the regional clientele of Asiana Market, The Helmet Center, DJ Motorsports, and the specialty food vendors.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Storefront Retail/Office Storefront Retail/Office General Retail Fast Food General Retail Storefront General Retail Supermarket Storefront Retail/Office
• Building Size    79,044
• Building Class    B
• Year Built/Renovated    1987/2017
• Price    14,100,000
• Price Per SF    178
• Percent Leased    97
• Tenancy    Multiple
• Building Height    1 Story
• Building FAR    0.24
• Land Acres    7.71 AC

• Air Conditioning