Mixed-Use Community Retail and Medical Center Hits the Market in Southwest Arizona
YUMA, Ariz., May 30, 2018 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announces it has been exclusively retained to offer for sale Big Curve Center, a 128,129-square-foot mixed-use retail and medical-anchored community center in Yuma, Arizona. The price is $25.8 million with new acquisition financing available at 4.8 percent, interest only.
“Drawing from a sizable trade area of more than 168,000 people within a 30-minute drive, Big Curve is a focal point for necessity-based goods and services,” says Bill Rose, IPA senior director. “The center’s major tenants include Albertson’s, the regional VA Clinic, Get Air Indoor Trampoline Park, Prime Care, Michaels, Applebee’s, Carl’s Jr., Starbucks and Washington Federal. Big Curve has maintained consistent cash flow with long-term occupancies estimated at an average of 13.8 years providing reliable rent growth. Credit tenants comprise 61 percent of the gross leasable area.”
Rose is representing the seller, a California-based private client. Ryan Sarbinoff, vice president and regional manager of Marcus & Millichap’s Phoenix office is the firm’s broker of record in Arizona.
Since its opening in 1981, Big Curve Center has been improved and enhanced. Situated 1.5 miles from Yuma International Airport and Marine Corps Air Station Yuma (MCAS Yuma), the property has approximately 2,250 feet of frontage along Business Loop Interstate 8. There are more than 58,600 households with an average annual household income of approximately $57,700 within a 30-minute drive. Major employers in Yuma include MCAS Yuma, U.S. Army Yuma Proving Ground, the Yuma Regional Medical Center, and the Yuma School District.