Tower Plaza

Institutional Property Advisors (“IPA”) is pleased to offer the opportunity to acquire Tower Plaza (“the Property”), a 97% leased, 132,194 square-foot grocery-anchored shopping center in the Southern California city of Temecula. The Property features an internet-resilient tenant roster comprised of 88 Ranch Marketplace, AMC Theaters and Armstrong Garden Centers, among others. Located along one of the trade area’s most heavily trafficked thoroughfares, Tower Plaza is ideally situated adjacent to the Temecula Valley Freeway (+/- 180,000 cpd) and Rancho California Road (+/- 37,000 cpd), and benefits from a dense and affluent customer base. The Property offers investors the opportunity to acquire a grocery anchored shopping center with an attractive in-place levered yield approaching 10%, and additional upside by rolling existing tenants to market.

Price:

NOI, Year 1 actual:

Occupancy:

Assumable Loan:

Rate/Maturity:

Cap Rate:

Cash On Cash, Year 1:

IRR:

LIRR:

$30,900,000

$2,172,912

97%

$20,000,000

4.12% / 7/2029

7.03%

12.38%

0.46%

16.78%

» High performing shopping center anchored by a grocer and AMC theatre

» Innovative and experiential open-air layout

» Excellent location within the Temecula retail hub

» Opportunity to capitalize on AMC’s movie theater brand, multi-million-dollar renovation and lease extension with attractive options

» Armstrong Garden Centers is a regional draw and attracts consumers from various communities throughout the trade area

» Located in Riverside County, one of the fastest growing counties in the UnitedStates

» Exceptional visibility from the I-15 and Rancho California Road and exposure from over 178,922 cars per day

» 1,500 feet of frontage along I-15 and 1,500 feet of frontage along Ynez Road

» High occupancy levels at 96.9% and low lease turnover

» 88 Ranch Marketplace below market at $12.16 PSF gross

» 3.31% CAGR

» Significantly below replacement cost

» Located adjacent to developing Uptown Temecula Specific Plan Area

» Property includes pre-existing assumable debt - 4.12% IO, 7 years remaining

» Attractive cash-on-cash of 12.38%