1940 W Indian School Road, Phoenix, AZ 85015
Horizon Village is a premier, 113,252-square-foot shopping center located in Phoenix, AZ. The center is 97% occupied and offers investors the opportunity for stable cash flows with potential upside. Horizon Village is 1031-exchange eligible. The center is anchored by a 62,868-square-foot Food City grocery store, an affiliate of Raley’s Supermarkets, and has operated at this location for over 20 years. Joining Food City at the center are many other essential, daily-needs tenants including Ace Hardware, Oak Street Health, Buffalo Wild Wings, Burger King, Subway and Boost Mobile.
1940 W Indian School Road, Phoenix, AZ 85015
Horizon Village is a premier, 113,252-square-foot shopping center located in Phoenix, AZ. The center is 97% occupied and offers investors the opportunity for stable cash flows with potential upside. Horizon Village is 1031-exchange eligible. The center is anchored by a 62,868-square-foot Food City grocery store, an affiliate of Raley’s Supermarkets, and has operated at this location for over 20 years. Joining Food City at the center are many other essential, daily-needs tenants including Ace Hardware, Oak Street Health, Buffalo Wild Wings, Burger King, Subway and Boost Mobile.
Viewed by 26462 Investors
Purchase Price
Targeted Hold Period
Targeted Net IRR1
Targeted Equity Multiple2
Targeted Average Cash-on-Cash Return3
Horizon Village is anchored by Food City, a subsidiary of Raley’s. Raley’s operates over 200 grocery locations across seven states.
Food City has operated at the center for over 20 years and is over 30% of total revenue and operates on a ground lease at below-market rent. The grocer reported sales exceed $15M with strong annual growth and a low health ratio. Per the ground lease, Food City is responsible for the maintenance of its own building, including the roof.
Ace Hardware, the second-largest tenant at over 11% of total revenue, has a 30-year operating history at the center. This Ace Hardware location is ranked in the top 10% of most visited of over 120 stores in the state of Arizona by foot traffic data.
The remaining necessity-based tenancy includes Oak Street Health, Buffalo Wild Wings, Boost Mobile and Burger King.
Phoenix is in the top 10 most populous cities in the country and per the last census in 2020, added more residents than any other U.S. city. Within a 3-mile radius of the property, the population exceeds 184,000 and average household incomes are over $91,000, according to Sites USA.
The center has over 600 feet of frontage on Indian School Road, a primary east-west arterial in Phoenix with over 67,000 vehicles per day at the intersection.
Horizon Village is being acquired on an off-market basis without participation in a typical bidding process.
The shopping center boasts low in-place rents that average under $11.00 PSF coupled with an acquisition basis below $140 PSF.
At this low-cost basis, we believe the center is well-positioned to capitalize on the growth of the immediate trade area including new apartment construction, added population density and upgraded tenancy.
Assets Under Management
Current Assets
Held
Total Investor Distributions
Since Inception
Current States
Present
Investors
GLA Acquired Since
Inception
All amounts are as of 03/20/2024.
Viewed by 26463 Investors
NOTE: Cash distributions and any specific returns are not guaranteed. An investment in commercial real estate is subject to risk, including the risk that all of your investment may be lost. Any representations concerning investing in commercial real estate, including, without limitation, any representations as to stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. The ability to make distributions or the amount of distributions may be affected by factors such as debt and lender restrictions, future capital expenditure needs, and financial performance of the property.
As of 3.4.2024
NOTICE: An investment in commercial real estate is speculative and subject to risk, including, inter alia, the risk that all of your investment may be lost. Any representations herein concerning the viability and profitability of investing in commercial real estate, including, without limitation, the stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. Cash distributions and any specific returns are not guaranteed. Securities are only available to verified accredited investors who can bear the risk of loss of their investment.
The information contained herein, including text, graphics, images and information, is general in nature and is for informational and illustration purposes only.
FNRP makes no representations or warranties of any nature whatsoever regarding any tax matters, including, without limitation, the ability of an investor to invest in FNRP with its specific self-directed IRA vehicle. The investor should independently obtain advice from his or her own independent legal counsel and/or tax accountant and/or IRA servicer regarding any such investment and the tax benefits and burdens associated with same.
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1940 W Indian School Road
Phoenix, AZ 85015
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1940 W Indian School Road
Phoenix, AZ 85015
“…In my experience in working with FNRP, I have seen a genuine desire to build trust and forge partnerships with all stakeholders through their transparency and integrity…”
Investor
Welcome Investors
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Investment Request
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