Fiesta Palms II Shopping Center

Fiesta Palms II is a 91% occupied shopping center in Mesa, AZ, combining stable in-place cash flow with multiple levers for growth. The property benefits from long-term tenants, strong traffic counts, an affluent and expanding consumer base, recent capital upgrades, and close proximity to the $1B Fiesta Mall redevelopment—positioning it for immediate rental upside, mid-term NOI growth, and long-term appreciation. Tenant leases are NNN with annual escalations and fair market value options that create a clear path for mark-to-market rent growth. Leasing the remaining vacant suite raises the CAP rate to 7.43%. Strategically located near US-60 at Alma School & Baseline (±52,000 VPD) with ±36,550 VPD along its frontage, Fiesta Palms II sits adjacent to the affluent Dobson Ranch community. Within 3 miles, 1,800 apartment units have recently been delivered, 2,500 units are under construction, and the Fiesta Mall redevelopment is slated to add ±4,000 more housing units—further strengthening long-term retail demand.