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For Sale > Retail Investment Opportunity<br />
<strong>Aurora</strong> <strong>Center</strong><br />
409 Merhar Avenue, Fairbanks, Alaska 99701<br />
<strong>Aurora</strong> <strong>Center</strong><br />
JOHANSEN EXPRESSWAY<br />
2<br />
2<br />
<strong>Aurora</strong> <strong>Center</strong> is a 100% leased, three tenant retail investment opportunity located on a pad to Old Navy, Sports Authority,<br />
Barnes & Noble, Petco, Famous Footwear and Sportsman’s Warehouse with Wal-Mart, Fred Meyer, Lowes’s, Safeway,<br />
Home Depot, Office Max, Michael’s and Sam’s Club all located within two blocks. AT&T represents 50% of the income<br />
stream, and all three leases are 10 years, providing strong credit and term to the investment. <strong>Aurora</strong> <strong>Center</strong> benefits from<br />
an excellent location in the heart of the North Star Boroughs’ dominant retail trade area consisting of 98,000 people with<br />
average household incomes of $70,000. This is an opportunity to acquire a brand new center with long-term leases,<br />
credit tenants, rental increases and a phenomenal location at an attractive yield.<br />
Paul Sleeth<br />
Senior Vice President, Colliers<br />
+1 206 223 1266<br />
paul.sleeth@colliers.com<br />
Billy Sleeth<br />
Retail Investment Sales, Colliers<br />
+1 206 654 0522<br />
billy.sleeth@colliers.com<br />
Jim Desmond<br />
Hunter Enterprises, Inc. dba Jim Desmond Realty<br />
+1 907 452 2072<br />
desmond@alaska.net
For Sale > Retail Investment Opportunity<br />
<strong>Aurora</strong> <strong>Center</strong><br />
409 Merhar Avenue, Fairbanks, Alaska 99701<br />
Representative Rendering<br />
Investment Highlights<br />
AT&T Credit | AT&T anchors the center and represents 50% of<br />
the income stream. AT&T is rated A- by Hoovers adding strong<br />
credit to the asset. In addition, Great Alaska Pizza is a corporate<br />
lease with eleven locations throughout Alaska and Colorado.<br />
Excellent Location/Strong Retail Corridor | The center is<br />
located in the heart of Fairbanks’ retail corridor on a pad in front<br />
of Lowe’s, Barnes & Noble, Sportsman’s Warehouse, Old Navy,<br />
Petco and Famous Footwear. Additional neighboring tenants<br />
include Wal-Mart, Fred Meyer, Home Depot, Safeway, Office<br />
Max, Sam’s Club, McDonald’s and Burger King.<br />
Extremely Busy <strong>Center</strong> & Trade Area | Very happy anchor and<br />
“junior” anchor neighboring tenants are quoting high volumes.<br />
Wide Trade Area | Fairbanks retail, including the <strong>Aurora</strong> <strong>Center</strong>,<br />
caters to a wide trade area serving the entire North Star<br />
Burough of Alaska. The North Star Burough consists of 98,000<br />
people, who all shop in Fairbanks.<br />
100% Leased | The offering is 100%-preleased to three tenants.<br />
Rental Increases | Great Alaska Pizza has annual rental<br />
increases and AT&T and Yogurt Fun Factory have rental<br />
increases every five years.<br />
Strong Demographics | Average Household Incomes are<br />
approximately $70,000 in the 1, 3, and 5-mile rings. The<br />
property caters to a wide trade area and benefits from a<br />
population of 32,000 and 52,000 people in the 3 and 5-mile<br />
rings.<br />
Ease of Management | With three 10-year NNN leases<br />
and brand new construction, the investment offers ease of<br />
management.<br />
Brand New Construction | The center is currently under<br />
construction and will be delivered brand new. Construction<br />
and tenant turnaround is expected September 2011.<br />
Ten Year Leases | All leases are ten years providing tenant<br />
commitment and long-term stability to the investment.
Representative Rendering<br />
Representative Rendering<br />
Representative Rendering
For Sale > Retail Investment Opportunity<br />
<strong>Aurora</strong> <strong>Center</strong><br />
409 Merhar Avenue, Fairbanks, Alaska 99701<br />
Yogurt Fun Factory<br />
Great Alaska<br />
Pizza Co.<br />
Site Description<br />
Location:<br />
409 Merhar Avenue, Fairbanks, AK<br />
The <strong>Aurora</strong> <strong>Center</strong> is located off of State Highway 2 and the<br />
Johansen Expressway on Merhar Avenue. The center is located<br />
in the heart of Fairbanks’ retail corridor on a pad in front of<br />
Lowe’s, Barnes & Noble, Sportsman’s Warehouse, Old Navy,<br />
Petco and Famous Footwear.<br />
Expected Construction Completion Date: September 15, 2011<br />
Land Area: 40,001 SF (0.918 Acres)<br />
Rentable Area: 5,627 SF<br />
Tenant List:<br />
Suite Tenant SF<br />
101 AT&T Mobility 2,759<br />
102 Yogurt Fun Factory 1,430<br />
103 Great Alaska Pizza Company 1,438<br />
Total SF: 5,627
For Sale > Retail Investment Opportunity<br />
<strong>Aurora</strong> <strong>Center</strong><br />
409 Merhar Avenue, Fairbanks, Alaska 99701<br />
<strong>Aurora</strong> <strong>Center</strong><br />
Financials<br />
Net Operating Income: $ 185,252<br />
Price: $ 2,390,000<br />
Capitalization Rate: 7.75 %<br />
Property Address:<br />
Land Area:<br />
Rentable Area:<br />
409 Merhar Avenue, Fairbanks, AK<br />
40,001 SF<br />
5,627 SF<br />
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties<br />
of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and<br />
excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2011. All rights reserved.<br />
Paul Sleeth<br />
Senior Vice President, Colliers<br />
+1 206 223 1266<br />
paul.sleeth@colliers.com<br />
Billy Sleeth<br />
Retail Investment Sales, Colliers<br />
+1 206 654 0522<br />
billy.sleeth@colliers.com<br />
Jim Desmond<br />
Hunter Enterprises, Inc. dba Jim Desmond Realty<br />
+1 907 452 2072<br />
desmond@alaska.net
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