Investment Overview

Register to Bid and Access Due Diligence Documents on Ten-X: https://www.loopnet.com/Listing/5130-W-Peoria-Ave-Glendale-AZ/37387496/ The property at 5130 W Peoria Avenue in Glendale, Arizona, presents a unique chance to acquire the former Sprouts Farmers Market anchor space, a ±30,600-square-foot freestanding building on ±3.23 acres. Built in 1976 and renovated in 2004, this high-visibility retail asset sits at the signalized intersection of 51st Avenue and Peoria Avenue. For investors, developers, or operators, the property offers an exceptional opportunity to establish a presence in one of the most vital retail corridors in the Phoenix MSA. As the former anchor tenant of this corridor, the building carries strong recognition and offers the ability to reestablish momentum alongside the existing inline shops and adjacent retail. The property’s infill location, connectivity to the center, and dense surrounding population of more than 450,000 residents within a 5-mile radius create an opportunity to reintroduce an anchor presence that drives traffic and strengthens overall tenant synergy. The Phoenix retail sector remains fundamentally strong moving into 2025, despite a recent uptick in store closures that temporarily slowed absorption. Healthy job creation, population growth, and income gains continue to underpin demand. As of early 2025, availability stands at 5.0%, up from 4.5% in late 2023, yet still well below historical averages and prior cycle lows. While bankruptcies and small business closures have created some vacancies, the openings have enabled retailers to expand more quickly. Leasing momentum surged in 2024, with Q2 and Q3 marking decade-high volumes, driven largely by discount retailers, dollar stores, and experiential tenants backfilling larger spaces. New supply remains limited, with only about 1.0 million square feet delivered in the past year compared to an average of 2.1 million square feet annually from 2015–2019. The current pipeline totals 2.3 million square feet, but just 20% is available for lease, with most development occurring in fast-growing suburban markets such as Buckeye, Surprise, and Queen Creek. Rental growth in Phoenix continues to outperform nationally, supported by low availability and strong consumption. Asking rents climbed 4.8% over the past year and have risen 31.0% over the past five years. Although growth may moderate with a cooling economy, fundamentals remain favorable, driven by strong demographics, steady job gains, and high tenant retention. Property tours are available by appointment only. Please contact the broker to schedule.