MESA RIDGE PROPERTY
Starboard Mesa Ridge DST intends to acquire Buildings B & D at Markets at Mesa Ridge Shopping Center in Fountain, Colorado (“Mesa Ridge”) for $11,700,000 June 10, 2016. Starboard Realty Advisors (“Starboard”), the sponsor/manager, is offering up to $5,600,000 of equity interests. The offering may qualify as a 1031 exchange replacement property. Mesa Ridge is anchored by Safeway Grocery Store* (NAP); in-line tenants include Pizza Hut, ENT Federal Credit Union, Subway The UPS Store, Fantastic Sam’s, Wells Fargo ATM, and Little Caesars just to name a few. Other co-tenants (not part of the offering) in the center include Carl’s Jr., Chic-Fil-A, Jersey Mikes, Starbucks, Taco Bell, and Sonic. Starboard acquires anchored multi-tenant neighborhood centers for diversification of income and rent growth opportunities.
• Anchored shopping center* in Fountain, Colorado
• 29,428 Square Feet
• 2 Buildings
• 4 Parcels on 10.03 Acres
• 17 tenant spaces
• 100% occupied
• Built in 2001
• Triple Net Leases
• 52% Credit & National Chain tenants including Pizza Hut, Fantastic Sam’s, The UPS Store, Wells Fargo, & Safeway (for common area maintenance expenses)
• Mesa Ridge parcels B&D have historical occupancy of from 2011– 2015 of 89%
• Safeway responsible for the maintenance of common area of its own parcel
* SAFEWAY GROCERY STORE BUILDING & LAND ARE OWNED BY SAFEWAY & ARE NOT-A-PART OF THIS PURCHASE.