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Johnstown, PA
Value-Add • 89% Occupied • Planet Fitness, VA Clinic, Park Home Furniture
Starting Bid
$1,500,000
Open –
For Auction
Asset Snapshot
Offering Summary
Colliers, in conjunction with RI Marketplace, is pleased to present the opportunity to acquire the fee-simple interest in the Fashion Outlets of Santa Fe (the “Property” or “Center,”), a 124,735 square foot outlet center sitting on 16.48 acres of prime land in Santa Fe, New Mexico.
The Property is currently 46% leased and anchored by Ralph Lauren which has been in occupancy since 2008. The remaining tenant roster consists of a variety of retail and restaurant uses, including national tenants Sunglass Hut, Eddie Bauer, and Levi’s. Approximately 21% of the rent roll holds a credit rating of investment grade.
The Center’s existing vacancy provides a unique opportunity for a value-add investor to execute either a simple lease-up strategy or a complete repositioning of the Property into a multifamily or mixed-use project. The adjacent 12-acre site was recently developed into a successful 234-unit multifamily complex that is currently 97% leased, demonstrating the significant demand for multifamily in the immediate vicinity.
The Fashion Outlets of Santa Fe provides an attractive covered land opportunity for an investor or developer to acquire a significant amount of well-located land with excellent freeway visibility in a growing market. Several new multifamily and healthcare projects have been delivered in the direct vicinity, including the new $145 million, 340,000-square-foot Presbyterian Healthcare Services Hospital.
Property Tours are being scheduled by appointment only. Please e-sign the Confidentiality Agreement and contact the Colliers team to arrange a tour.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
Value-Add • 89% Occupied • Planet Fitness, VA Clinic, Park Home Furniture
