Available Property

Blockbuster Entertainment
3328 North Litchfield Road
Goodyear, Arizona
$1,594,000

The subject property is a very well located freestanding corporate Blockbuster Entertainment retail store in the west Phoenix suburb of Goodyear, Arizona. Goodyear has a population of almost 50,000 and was the 3rd fastest growing Arizona city. The Blockbuster building is at one of the entrances to a Safeway Marketplace & gas station / Wells Fargo bank / Whataburger anchored shopping center at No. Litchfield Rd. and Indian School Rd. Sharing this intersection are Walgreens Drugstore and Walmart Neighborhood Market. Blockbuster has operated this location since the shopping center was built in 1997. The 6,060 sf single story, building sits on a ± 20,000 sf parcel. In May 2007 Blockbuster exercised its 1st renewal option taking the rent to $135,480 per year. Local agents report the current rent of $22.35 is below the market range of $28-$30 psf. The next 5 year option calls for rent to increase 12% to $151,732 per year. Litchfield Road is fully developed from Interstate 10 to the site. Residential and commercial growth has enveloped this area, most notably the City’s downtown, City Center, Estrella Falls, Southwest Valley’s first super regional shopping center, Cancer Treatment of America’s new state-of-the-art healthcare facility, the expansion of Interstate 10 and more. Goodyear, Arizona is an affluent area with an average household income of $110,625 within one mile and a population of 155,281 within five miles. Major employers in Goodyear include Lockheed Martin, CAVCO Industries, Macy’s Inc., Cancer Treatment Centers of America, ATCA Airline Training Center, Oxford Aviation, AeroTurbine, Global Organics, Keogh Engineering, Ladder Industries, Simpson Norton, Imsamet of Arizona, and Southwest Specialty Foods. This investment offers an investor a significant yield through 2012 and a superior location in the event Blockbuster choses not to extend the lease.

Tenant: Blockbuster, Inc
Blockbuster Inc. is a leading global provider of rental and retail movie and game entertainment, with over 7,800 stores in the United states, its territories and 21 other countries as of January 2008. Their mission is to provide customers with the most convenient access to media entertainment, including movie and game entertainment delivered through multiple distribution channels such as their stores, by-mail, and the Internet. Blockbuster offers customers value-priced entertainment experience, combining the broad product depth of a specialty retailer with local neighborhood convenience.

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