'); Colliers International | Properties | New Retail Development Shops and Pads

New Retail Development Shops and Pads

The Shoppes at 50C SEC Chandler Blvd & 50th St Phoenix, AZ 85048

  • 2,000 Square Feet – 5,000 Square Feet
  • Retail
  • For Lease

Summary Description

New retail development planned for the southeast corner of Chandler Boulevard and 50th Street in Phoenix. Proposed site plan for The Shoppes at 50C includes shop space and pads totaling ±16,200 square feet. Site area is ±139,609 square feet (±3.2 acres). Expected delivery is Q4 2018. Call for rates.

The Ahwatukee neighborhood is located in the South Phoenix suburbs and has expanded as the population in the Valley of the Sun has grown. The Ahwatukee area is south and east of South Mountain Park and is connected to the rest of the Greater Phoenix metro area by the Interstate 10, Loop 101 and Loop 202.

Major employers in the Ahwatukee area include Liberty Mutual Insurance, US Food, The Arizona Grand Resort, BAE Systems, Cyracom, Xerox Consumer Cellular and Dish Networks. Collectively, the 10 largest employers in Ahwatukee combine to employ more than 4,500 workers.

The local population in Ahwatukee is approximately 90,000 residents. There is a significant amount of retail space in the area to serve the large, affluent population. There is more than 10 million square feet of retail space, including the only IKEA in Greater Phoenix, the Groves Center on Elliott Road, and the Ahwatukee Foothills center on Ray Road. The submarket is home to several big-box retailers, including IKEA, PetSmart, Walmart, Costco, Sam’s Club, Target and Lowe’s.

Vacancy in the submarket is 7.3 percent, down from 8 percent one year ago. Net absorption has been positive in each of the past two years, totaling nearly 150,000 square feet. Preliminary estimates for the first quarter 2017 show tenants moving into a net of more than 50,000 square feet.

Average rents have ranged between $14.50 to $16.50 per square foot over the past few years. Preliminary estimates show the rate as of the first quarter 2017 put average rents at $15.86 per square foot, 2.3 percent higher than one year ago.

Area Available: 2,000 Square Feet – 5,000 Square Feet

Site Area

±139,609 SF (±3.2 acres)

Proposed Building Area

±16,200 SF

Zoning

C-2

Features:

  • Property has main thoroughfare frontage along the commuter route from Ahwatukee to the I-10 and Loop 202 arteries
  • Ideal for restaurant and retail users
  • Parking: download brochure for details
  • Excellent demographics, including average home value of $325,000 and median HH income of $80,500 in Ahwatukee
  • Adjacent to Generations Senior Living Facility, LIV Apartment Homes and a variety of hotels
  • Expected delivery: Q4 2018

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