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          La Mirada          

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Location:  Peak Road and Pima Road
City:  Scottsdale
State:  Arizona
Rating Level:  A+
Tenants:  50
Buildings:  13
Building Size:  148,500 sq.ft
Land:  15.93 acres
Parking Spaces:  659
Year Built:  1996
Date Acquired:  

La Mirada Center was developed by the seller, Desert Troon Company, and was completed in 1996. The approximately 15.93-acre site is divided into multiple parcels, all of which will be owned with the exception of a pad parcel that was previously sold to Bank of America. There are common parcels for ingress, egress and parking, and natural area open space. The site has good access from both Pima Road and East Pinnacle Peak Road with a traffic signal at the corner of Pima and Pinnacle Peak. Recent average daily weekday traffic counts at this intersection are 35,000 cars per day, a strong number of cars that contributes to the long-term desirability of the property.

La Mirada Center has approximately 50 tenants within its 13 buildings (one owned by Bank of America as noted). The three office buildings comprise approximately 25% of the total leasable area, and are built with slab on-grade foundations and stucco exteriors. Exterior and interior improvements were observed to be in good to above-average condition by third party inspections. Retail buildings comprise the remaining approximately 113,000 square feet of the center spread among 10 buildings. Parking for the retail space is provided for 470 cars, with an additional 189 allocated to the office space.

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