Description
SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Alante Plaza, a 3-tenant, 6,233 SF, 100% leased investment property located in Glendale, AZ. 40% of the building has been occupied by Tandoori Times Indian Bistro for more than 12 years, speaking to the long-term strength of the location. Tandoori Times has also 1 (5-year) option to extend at fair market rent. An additional 40% of the building’s square footage was recently leased to Churroholics & Hiccups under a 10-year initial term with 2 (5-Year) options to extend. Both leases feature annual rental increases, steadily growing NOI and hedging against inflation. Both tenants operate under NNN leases, limiting expense leakage for a new owner. Current ownership has recently invested significant capital toward the parking lot, roof, and exterior painting of the building, limiting future capital expenditures for a new investor.