Description

Cushman & Wakefield is pleased to present the opportunity to acquire Encanto Plaza, a fully occupied multi-tenant retail investment located in Phoenix. The property consists of approximately 10,026 square feet situated on ±1.44 acres and is fully leased to eight local tenants serving the greater Phoenix market. Structured with triple-net (NNN) leases, the asset provides investors with stable in-place cash flow while minimizing landlord expense responsibilities, further enhanced by strong annual rent escalations of 4% across all leases. Originally constructed in 2003, Encanto Plaza features a diverse, neighborhood-oriented tenant mix with a weighted average lease term of approximately 4.8 years. The tenancy profile is particularly compelling, as all tenants operate locally within the Phoenix area and the majority have occupied the center for more than a decade, reflecting long-term operational stability, an established customer base, and continued relevance within the surrounding community. The property is positioned within a densely populated trade area containing more than 409,000 residents within a five-mile radius and benefits from convenient access near the Interstate 10 corridor, which experiences traffic counts of approximately 302,927 vehicles per day. The site also enjoys strong visibility at a prominent hard-corner location near key regional demand drivers including Desert Sky Mall and Talking Stick Resort Amphitheatre. In addition, the surrounding area is supported by solid demographics, with average household incomes exceeding $104,000 within a one-mile radius. This offering represents an opportunity to acquire a stabilized retail center with diverse local tenancy, durable in-place income, contractual rent growth, and strong real estate fundamentals in a well-established infill Phoenix location.