This property is a 39,300 square foot retail shopping center consisting of 14 national and regional tenants: Dollar Tree, Payless Shoes, Subway, Verizon, Great Clips, Metropolitan Mattress, GNC, The Clothing Company, Sally Beauty, Panda Express, Nationwide Vision, Mail Boxes Etc, LA Nails and the US Government.

The center is anchored by Wal-Mart. The out parcels include Burger King, Del Taco, Hollywood Video and Chuys. The property is located in one of the fastest growing suburbs of Phoenix, near new stadiums for the NFL Cardinals and the NHL Coyotes.

The property was purchased on a cap rate of 7%. We assumed a 67% mortgage at an interest rate of 5.4% amortized over 30 years. After deducting for management fees, principal and interest payments and all reserves, the cash-on-cash return is 6.88%. The effective rate of return is 9.92%.

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