Overview

Description

Below Market Rents -- Pioneer Plaza's average rent per square foot is $13.29 NNN in comparison to the Phoenix MSA of $25 NNN (Costar).

Infill Strip Retail – Resilient market fundamentals with high tenant demand and increasing rental rates.

Immediate Upside with Lease Up – Short term leases in place with t6 out of 7 leases expiring by January of 2026 proving immediate lease up opportunity (see Property Improvement Schedule on Page 5).

Surrounding Multi-Family Development – 591 multi-family housing units were delivered within the last 3 years with another 811 units under construction all within 1.5 miles of Pioneer Plaza.

Tightening Retail Supply – A mature trade area with redevelopment capital being deployed into housing and multi-family projects. Limited new retail construction is being performed with an emphasis towards mixed-use storefront retail in conjunction with housing projects.

Proximity to Major Developments – The redevelopment of Fiesta Mall, upcoming multifamily projects, and continued investment in the downtown Mesa corridor support long-term retail demand.

Location

Lee and Associates Commercial Real Estate Services is pleased to present Pioneer Plaza, a value add, multi-tenant strip center in the Phoenix MSA (Mesa). Pioneer Plaza is an 8,920 SF retail strip center location on the Northeast corner of Hobson Road & Main Street, in Mesa, AZ.

This multi-tenant investment opportunity gives qualified investors a chance to purchase a value-add retail strip center with immediate upside through re-tenanting. The trade area has gone through major redevelopment and revitalization over the past decade. Immediately surrounding the Property, 591 multi-family housing units were delivered within the last 3 years with another 811 units under construction all within 1.5 miles of Pioneer Plaza.

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