Aurora Center - Premier location anchored by Sportsman's Warehouse, Barnes & Noble and Petco - LoopNet
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PREMIER RETAIL PROPERTY FOR SALE Aurora Center 413-423 MERHAR AVENUE / FAIRBANKS, AK 99701 Premier location anchored by Sportsman’s Warehouse, Barnes & Noble and Petco CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
Table of Contents PROPERTY INFORMATION 3 LOCATION INFORMATION 6 DEMOGRAPHICS 13 ADVISORS 18 CONFIDENTIALITY & DISCLAIMER All materials and information received or derived from NAI Elliott its directors, of cers, agents, advisors, af liates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, nancial performance of the property, projected nancial performance of the property for any party’s intended use or any and all other matters. Neither NAI Elliott its directors, of cers, agents, advisors, or af liates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of signi cance to such party. NAI Elliott will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All nancial data should be veri ed by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. NAI Elliott makes no warranties and/or representations regarding the veracity, completeness, or relevance of any nancial data or assumptions. NAI Elliott does not serve as a nancial advisor to any party regarding any proposed transaction. All data and assumptions regarding nancial performance, including that used for nancial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certi ed public accountant or tax attorney. Title questions should be discussed by the party with a title of cer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by NAI Elliott in compliance with all applicable fair housing and equal opportunity laws. CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
Section 1 Property Information
1. PROPERTY INFORMATION
Executive Summary
PROPERTY OVERVIEW
Sale Price $23,410,000
Aurora Center is a premier shopping complex
OFFERING SUMMARY consisting of Sportsman’s Warehouse, Petco,
Famous Footwear, Barnes & Noble, Old Navy,
Building Size: 119,390 SF
GameStop, Irashai Japanese Restaurant and
Lot Size: 10.005 Acres
Papa Murphy’s Pizza. Located adjacent to many
Price / SF: $196.08
other quality retailers including Ulta Beauty,
Cap Rate: 7.0%
Walmart Supercenter, Lowes Home Improvement,
Proforma NOI: $1,638,757 Costco, Home Depot and Fred Meyer.
Year Built: 2005
Parking: 625 spaces (5.24/1000)
CONTACT
Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
This information has been obtained from sources believed reliable. We have not veri ed it and make no guarantee, warranty or representation about it. Any projections, opinions,
assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful,
independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
1. PROPERTY INFORMATION Property Summary PROPERTY HIGHLIGHTS Stable property with long term tenants. Three tenants totaling approximately 43.8% of the rentable space renewed their leases in 2020 for an additional 5 years. One tenant representing an additional 39.4% of the rentable area renewed its lease in 2020 for an additional 10 years. Only 16.79% of tenants have leases that roll over in the next 5 years. 97.68% of the tenants have been at the property since it was initially constructed. Great visibility from Johansen Expressway. Two pylon signs on property. CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
Section 2 Location Information
2. LOCATION INFORMATION Property Description PROPERTY DESCRIPTION Located within a seasoned, fully developed regional commercial center. A busy hub at Johansen Expressway and Hwy 2. LOCATION DESCRIPTION The US military has two significant military operations near Fairbanks with Fort Wainwright and Eielson Air Force Base. Fairbanks International Airport is the freight hub for the entire central region of Alaska and provides non-stop service to Europe. The University of Alaska Fairbanks boasts a large student population of 8,207 students and includes a research center, as well as being a major employer in the region. Other major employers in the area include Banner Health System, Alyeska Pipeline Service, Tanana Chiefs Conference, Fairbanks Gold Mining and Petro Star. CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
2. LOCATION INFORMATION Regional Map CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
2. LOCATION INFORMATION Aerial Map CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
2. LOCATION INFORMATION Aerial Map Close-in CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
2. LOCATION INFORMATION Site Plans CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
2. LOCATION INFORMATION
Tenant Profiles
Sportsman's Warehouse is an American outdoor sporting Old Navy is an American clothing and accessories retailing
goods retailer which operates in 25 states across the United company owned by multinational corporation Gap Inc. It has
States, including Alaska. Sportsman's Warehouse sells corporate operations in the Mission Bay neighborhood of San
apparel, footwear, and gear which caters to sportsmen and Francisco, California and has over 1,100 locations across the
sportswomen with interests in hunting, shooting, reloading, country.
camping, fishing, and other outdoor recreational activities.
On December 21, 2020, it was announced that Great Famous Footwear is a nationwide chain of retail stores in
American Outdoors Group, the parent company of Bass Pro the United States dealing in branded footwear, generally at
Shops and Cabela's, would acquire Sportsman's Warehouse. prices discounted from manufacturer's suggested prices. The
chain is currently a division of the St. Louis-based Caleres
Petco Health and Wellness Company, Inc. is an American and maintains more than 1,125 storefronts in 2010.
pet retailer in the United States, with corporate offices in San
Diego and San Antonio. Petco sells pet products and GameStop Corp. is an American video game, consumer
services, as well as certain types of live animals. Petco sells electronics, and gaming merchandise retailer. The company
and holds fish, reptiles, small birds, hamsters, guinea pigs, is headquartered in Grapevine, Texas (a suburb of Dallas),
and mice for adoption. Pet services include grooming and United States, and is the largest video game retailer
dog training. The company also owns the naming rights to worldwide. As of January 30, 2021, the company operated
the Petco Park baseball stadium, which is home of the San 4,816 stores including 3,192 in the United States, 253 in
Diego Padres. As of 2017, the company operates more than Canada, 417 in Australia and 954 in Europe under the
1,500 locations across the United States and Mexico, GameStop, EB Games, ThinkGeek, and Micromania-Zing
including more than 85 Unleashed by Petco locations, which brands.
in a smaller-format neighborhood brand-launched, spa
services, and an online shopping destination at petco.com. Papa Murphy's is a take-and-bake pizza company based in
Vancouver, Washington. It began in 1995 as the merger of
Barnes & Noble Booksellers is an American bookseller. It is two local take-and-bake pizza companies: Papa Aldo's Pizza
a Fortune 1000 company and the bookseller with the largest (founded in 1981) and Murphy's Pizza (founded in 1984). The
number of retail outlets in the United States. As of March 7, company and its franchisees operate more than 1,300 outlets
2019, the company operates 627 retail stores in all 50 U.S. in the United States and Canada. Papa Murphy's is the fifth-
states. In August 2019, Elliott Management Corporation largest pizza chain in the United States.
acquired the company. Barnes & Noble operates mainly
through its Barnes & Noble Booksellers chain of bookstores.
The company's headquarters are at 122 Fifth Avenue in New
York City. The company is known by its customers for large
retail outlets, many of which contain a cafe serving Starbucks
coffee and other consumables. Most stores sell books,
magazines, newspapers, DVDs, graphic novels, gifts, games,
toys, music, and Nook e-readers and tablets.
CONTACT
Joseph Sandahl 503 972 7192 / jsandahl@naielliott.comSection 3 Demographics
3. DEMOGRAPHICS Demographic Summary CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
3. DEMOGRAPHICS Demographics-Full Profile CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
3. DEMOGRAPHICS Demographics-Full Profile CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
3. DEMOGRAPHICS Demographics-Full Profile CONTACT Joseph Sandahl 503 972 7192 / jsandahl@naielliott.com
Section 4 Advisors
04. ADVISORS
Joseph Sandahl
Senior Director: Capital
Markets, Principal Broker
Licensed in OR
d 503 972 7192
c 503 310 9973
o 503 224 6791
f 503 228 3169
jsandahl@naielliott.com
BACKGROUND & EXPERIENCE
Joseph Sandahl joined NAI Elliott in 2011. He serves as the Senior Director of
Capital Markets. In this role, Joseph brings over 25 years of broad-based
commercial real estate experience to the firm and plays an integral part in the
company’s investment brokerage, debt and equity placement, leasing and new
business development activities, including the creation of private equity real estate
funds.
Prior to joining NAI Elliott, Joe served in executive leadership roles at other Portland
based regional commercial real estate firms where he represented pension funds,
foundations, institutional clients and high net worth families in the acquisition,
financing, management, leasing and/or disposition of over 100 retail centers,
business parks, office buildings and industrial properties throughout the Pacific
Northwest.
AFFILIATIONS, DESIGNATIONS, EDUCATION
Building Owners and Managers Association (BOMA®)
Insitute of Real Estate Management (IREM®)
Commercial Real Estate Development Association (NAIOP®)
National Association of Realtors (NAR®)
Oregon Association of Realtors (OAR®)
California Association of Realtors (CAR®)
Certified Commercial Investment Member (CCIM®)
Certified Property Manager (CPM®)
B.S. Economics / Oregon State UniversityYou can also read
