The Shops at University Square

Attachments

• Riverside - The Shops at University Square.pdf (PDF) opens in new window

Highlights

• 100% Leased to 6 E-Commerce Resistant Tenants – The asset features a robust mix of internet resilient tenants whose uses cannot be easily duplicated online. Examples include RAD Coffee, Miss Donuts & Bagel, and Mariscos Taco Shop.
• Fully NNN Leases – All of the center’s tenants are on industry standard AIR NNN leases with no caps on property taxes, insurance, or CAM.
• Diverse Tenant Mix – Unlike a single tenant asset where all the asset’s income is tied to one lease, the subject property’s income is spread across 6 tenants with no individual tenant accounting for more than 24% of the center’s income.
• Strong Income Growth – All leases feature embedded 3% annual increases. The all-cash yield grows to an estimated 7.00% by 2026.
• Limited Shop Space Competition – Strip centers (with parking included) are limited in Downtown Riverside, resulting in less competition and lower vacancy rates.
• Ideal Space Sizes Ranging from 750 SF to 1,750 SF – Retail space under 2,500 SF tends to have the largest pool of replacement tenants, reducing vacancy risk and creating more upside potential as supply remains limited.
• Clean Phase I Report & Detailed Due Diligence Package – The seller has preemptively obtained a clean Phase I environmental report dated April 2024. The due diligence package is thorough, including financial statements and sales reports for multiple tenants.

Location

Getting Around

• Walk Score ®

  95/100 Walker's Paradise

• Transit Score ®

  48/100 Some Transit

• Bike Score ®

  73/100 Very Bikeable

Points of Interest