Asset Snapshot
Offering Summary
RealINSIGHT Marketplace and Newmark Knight Frank are pleased to present the opportunity to acquire Moreno Valley Mall (the âÂÂPropertyâ or âÂÂMallâÂÂ), a dominant super-regional mall located in Moreno Valley, California. The Mall consists of approximately 1,096,597 square feet (491,063 SF owned) of gross leasable area, situated on 38.52 acres in the heart of Southern CaliforniaâÂÂs Inland Empire Region.
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Moreno Valley Mall is advantageously located off State Route 60 (126,000 VPD), near the confluence of Interstate 215 (172,500 VPD) in the Riverside-San Bernardino-Ontario MSA, which boasts a population in excess of 4.4 million residents. Originally built in 1992 and renovated in 2006, the Property possesses a host of fundamentally-desirable investment characteristics, including strong positioning along State Route 60, high-performing national inline ($423 PSF sales) and anchor tenants, and exceptional trade area demographics with embedded population growth. The Mall has been a consistent performer in the market, providing stable, dependable cash flow, with additional opportunity for a new investor to improve current operations and enhance cash flow.
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Important Highlights
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⢠ Substantial in-place gross and net operating incomes of $14.7M and $7.3M respectively, providing sufficient funds for tenant and capital improvements.
⢠ In-line sales growing year over year at an average of 5.8% since 2014 to $423 per square foot.
⢠ Over $13.4 million allocated to capital expenditures and tenant improvements over the past six years.
⢠ Growing demographic base with average annual population growth forecast to outpace that of The United States through 2022.
⢠ Diverse tenant mix with lifestyle and entertainment attractions such as Crunch Fitness, Harkins Theatre, JumpâÂÂn Jammin and       Round1 Bowling coupled with new concept stores such as F21 Red and the soon to open Japanese retailer, MINISO.
⢠ More than 6,300 single-family and multi-family units in the development process near the Mall.
⢠ Average household income north of $70,000 with 51% of the workforce in white collar jobs.
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Auctioneer
Emilio Lemeni
License No.: 00961384
Due Diligence
Platform Fee
Buyer pays a minimum platform fee of 5% or $25,000 at closing.
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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.
