Stable Investment with over 92.77% Occupancy: Foothill Plaza is a well-located Grocery-Anchored Retail Center with a good tenant mix.
Upside and Rent Growth Potential: There is room to grow the rents at this center in the below market lease rates and options/escalations.
Good Term in Box Leases: Ridley’s Family Market has a lease in place that doesn’t expire until 2033. Big Lots lease expires in 2021, which means that 69% of the center is occupied until 2021.
Irreplaceable Location: Location is at the westside of the on/off ramp of I-15 exit 71. Foothill Plaza is located at the lighted intersection of Alameda Road and Pocatello Creek Road.
CMBS Loan Assumption: 4.5855% fixed rate; 25 Yr. Amortization; 10 yr Term; Assumption Fee is 1.0%.
Strengths of the Location is evidenced by the close proximity of these box retailers: Costco, Deseret Industries, Dollar Tree, Fred Meyer, Sportsman’s Warehouse, and WinCo Foods.
Healthy Traffic Counts: Traffic counts on Pocatello Creek road are over 21,500 AADT.
Strong Demographics: Population in a 3-mile radius is 59,144 with 63,267 daytime population. The average household income in the 3-mile radius is $56,261.