Mc Dowell South Photo Gallery

The trade area surrounding McDowell Marketplace demonstrates robust demographics supporting retail performance. Within 3 miles, the population stands at 148,730 with a 7.4% five-year growth rate, exceeding the MSA average. Average household income is $93,500, with 34.5% holding bachelor's degrees or higher and home values averaging $466,600. Daytime population reaches 338,600, bolstered by 10,680 businesses and 96.8% employment rate, indicating strong commuter and worker traffic for convenience retail. This profile favors grocery and service tenants, aligning with the center's mix.

Phoenix retail market remains tight with 4.9% vacancy as of Q1 2024 per Avison Young, reflecting high demand. McDowell Marketplace holds a solid neighborhood position anchored by Safeway, drawing 1.3 million annual visits amid low saturation in grocery categories. However, proximity to downtown introduces competition from mixed-use developments like Roosevelt Row and larger venues such as CityScape Phoenix. Strengths include essential services reducing vulnerability to e-commerce, but risks involve market saturation in urban casual dining and potential footfall diversion to premium malls like Biltmore Fashion Park 5 miles away.

Prime accessibility via I-10 and major arterials supports estimated footfall from 68,000 daily vehicles. Fully leased status signals operational quality and desirable lease terms, with regional averages at $25 PSF NNN. Advantages encompass stable cash flow and synergistic tenant mix enhancing co-tenancy. Drawbacks include potential aging infrastructure in an urban setting, requiring due diligence on maintenance costs, and limited expansion potential due to density. Lease negotiations may yield concessions given full occupancy, but competition for spaces could elevate rates in this low-vacancy market.