Aurora Center Aurora Center

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Aurora Center Aurora Center

For Sale > Retail Investment Opportunity

Aurora Center

409 Merhar Avenue, Fairbanks, Alaska 99701

Aurora Center

JOHANSEN EXPRESSWAY

2

2

Aurora Center is a 100% leased, three tenant retail investment opportunity located on a pad to Old Navy, Sports Authority,

Barnes & Noble, Petco, Famous Footwear and Sportsman’s Warehouse with Wal-Mart, Fred Meyer, Lowes’s, Safeway,

Home Depot, Office Max, Michael’s and Sam’s Club all located within two blocks. AT&T represents 50% of the income

stream, and all three leases are 10 years, providing strong credit and term to the investment. Aurora Center benefits from

an excellent location in the heart of the North Star Boroughs’ dominant retail trade area consisting of 98,000 people with

average household incomes of $70,000. This is an opportunity to acquire a brand new center with long-term leases,

credit tenants, rental increases and a phenomenal location at an attractive yield.

Paul Sleeth

Senior Vice President, Colliers

+1 206 223 1266

paul.sleeth@colliers.com

Billy Sleeth

Retail Investment Sales, Colliers

+1 206 654 0522

billy.sleeth@colliers.com

Jim Desmond

Hunter Enterprises, Inc. dba Jim Desmond Realty

+1 907 452 2072

desmond@alaska.net


For Sale > Retail Investment Opportunity

Aurora Center

409 Merhar Avenue, Fairbanks, Alaska 99701

Representative Rendering

Investment Highlights

AT&T Credit | AT&T anchors the center and represents 50% of

the income stream. AT&T is rated A- by Hoovers adding strong

credit to the asset. In addition, Great Alaska Pizza is a corporate

lease with eleven locations throughout Alaska and Colorado.

Excellent Location/Strong Retail Corridor | The center is

located in the heart of Fairbanks’ retail corridor on a pad in front

of Lowe’s, Barnes & Noble, Sportsman’s Warehouse, Old Navy,

Petco and Famous Footwear. Additional neighboring tenants

include Wal-Mart, Fred Meyer, Home Depot, Safeway, Office

Max, Sam’s Club, McDonald’s and Burger King.

Extremely Busy Center & Trade Area | Very happy anchor and

“junior” anchor neighboring tenants are quoting high volumes.

Wide Trade Area | Fairbanks retail, including the Aurora Center,

caters to a wide trade area serving the entire North Star

Burough of Alaska. The North Star Burough consists of 98,000

people, who all shop in Fairbanks.

100% Leased | The offering is 100%-preleased to three tenants.

Rental Increases | Great Alaska Pizza has annual rental

increases and AT&T and Yogurt Fun Factory have rental

increases every five years.

Strong Demographics | Average Household Incomes are

approximately $70,000 in the 1, 3, and 5-mile rings. The

property caters to a wide trade area and benefits from a

population of 32,000 and 52,000 people in the 3 and 5-mile

rings.

Ease of Management | With three 10-year NNN leases

and brand new construction, the investment offers ease of

management.

Brand New Construction | The center is currently under

construction and will be delivered brand new. Construction

and tenant turnaround is expected September 2011.

Ten Year Leases | All leases are ten years providing tenant

commitment and long-term stability to the investment.


Representative Rendering

Representative Rendering

Representative Rendering


For Sale > Retail Investment Opportunity

Aurora Center

409 Merhar Avenue, Fairbanks, Alaska 99701

Yogurt Fun Factory

Great Alaska

Pizza Co.

Site Description

Location:

409 Merhar Avenue, Fairbanks, AK

The Aurora Center is located off of State Highway 2 and the

Johansen Expressway on Merhar Avenue. The center is located

in the heart of Fairbanks’ retail corridor on a pad in front of

Lowe’s, Barnes & Noble, Sportsman’s Warehouse, Old Navy,

Petco and Famous Footwear.

Expected Construction Completion Date: September 15, 2011

Land Area: 40,001 SF (0.918 Acres)

Rentable Area: 5,627 SF

Tenant List:

Suite Tenant SF

101 AT&T Mobility 2,759

102 Yogurt Fun Factory 1,430

103 Great Alaska Pizza Company 1,438

Total SF: 5,627


For Sale > Retail Investment Opportunity

Aurora Center

409 Merhar Avenue, Fairbanks, Alaska 99701

Aurora Center

Financials

Net Operating Income: $ 185,252

Price: $ 2,390,000

Capitalization Rate: 7.75 %

Property Address:

Land Area:

Rentable Area:

409 Merhar Avenue, Fairbanks, AK

40,001 SF

5,627 SF

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

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

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.

Paul Sleeth

Senior Vice President, Colliers

+1 206 223 1266

paul.sleeth@colliers.com

Billy Sleeth

Retail Investment Sales, Colliers

+1 206 654 0522

billy.sleeth@colliers.com

Jim Desmond

Hunter Enterprises, Inc. dba Jim Desmond Realty

+1 907 452 2072

desmond@alaska.net

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