Mill Avenue retail is a street-front, often food and service, with a different rollover from a power center at the edge of Tempe near the I-10. Those files do not share a coupon because both say Tempe. Capital Market Funds originates life company, bank, CMBS, or bridge from Scottsdale. We do not claim Tempe Marketplace or any named center as a client.
The published retail loan is The Block at Pima Center, Scottsdale, $14,500,000, a ground-lease acquisition. It is not Tempe. The Tempe tombstone is dental office. A clinic is not a shop. Arizona retail is the statewide page. Agency programs are not how a Tempe center is financed.
Tempe retail: Retail risks that change the source
- Between Phoenix and the East Valley
- Tempe sits between Phoenix, Mesa, Chandler, and Scottsdale. Light rail and the lake do not decide agency versus bank. The address and the occupancy do. Source: City of Tempe.
- Rollover
- Anchor, shadow-anchor, and a strip of local tenants are different credit. Life company and bank read the expirations. A center that is still leasing is not quoted as if it were full.
- Sales are not a cap rate page
- We do not publish a cap rate or a rent per foot. The rent roll and the leases are the file.
Street retail versus a multi-tenant pad
A single building on Mill with several small suites is credit-concentrated in a different way than a grocery shadow anchor. We read remaining term, sales if the tenant reports them, and whether the sponsor occupies a suite. We do not publish a Tempe retail volume.
A center with a dark junior box is bridge until the release is real enough for permanent credit. Calling it stabilized because the address is Tempe would be false.
What stays off this page
Apartments near the campus are Tempe multifamily. Flex on Priest is Tempe industrial. The $745,000 dental cash-out is medical office. None of those is a retail closing.
Scottsdale Fashion Square and Pima Center are Scottsdale. A Tempe sponsor who shops those dollars as comparable proof will be told they are a different city.
Tempe Marketplace
Tempe Marketplace is the large open-air retail center at the Loop 202, with pads and national shops. It is not Mill Avenue’s sidewalk restaurants, which are a downtown street. A Marketplace lease is retail credit at that center. Do not paste a Mill Avenue sales report onto it.
Capital for Tempe retail
| Source | When it fits |
|---|---|
| Life company | Tempe retail with tenants an insurance company will read. |
| Bank and credit union | A smaller Tempe center held on a portfolio. |
| CMBS | When the Tempe proceeds or the ground lease need conduit structure. |
| Bridge | A Tempe bay in release. Not the Pima Center acquisition. |