New ground-up development along Camelback Road within the Biltmore district of Central Phoenix
EXTREMELY AFFLUENT TRADE AREA / BILTMORE FASHION PARK
The property is strategically located less than a mile west of the Biltmore Fashion Park: one of Phoenix’s top luxury malls owned by Macerich. Biltmore Fashion Park is tenanted by leading luxury retailers including Saks Fifth Avenue, The Apple Store, Ralph Lauren, Jonathan Adler, Pottery Barn as well as popular eateries including The Capital Grill, True Food Kitchen, The Cheesecake Factory, California Pizza Kitchen and Seasons 52. The mall’s shopper is an affluent consumer with average household income of $126,000.
STAGGERING TRAFFIC COUNTS OF 150,000 ADT
Camelback Road at 51 boasts staggering traffic counts approaching 150,000 vehicles daily. Immediately to the east of the property at Camelback Road and 20th street, traffic counts approach 50,000 ADT. The Camelback Road corridor between the Biltmore Fashion Park and 51 is considered one of the highest traffic zones in all of metro Phoenix.
EXCELLENT ACCESS & VISIBILITY FROM CAMELBACK COLONNADE
The property enjoys unprecedented access with left-in and left-out along Camelback Road. Additionally, the property sits at the main entrance/exit to Camelback Colonnade: a 625,000 SF open air center operated by RED Development and anchored by Best Buy, Michael’s, Bed Bath & Beyond, Fry’s Supermarket, Marshall’s, Staples, ULTA and Old Navy.
SLEEP NUMBER – AN INDUSTRY LEADER
Select Comfort Corporation is leading the industry in delivering an unparalleled sleep experience by offering consumers high-quality, innovative and individualized sleep solutions and services, which include a complete line of Sleep Number beds and bedding. Over the past five years, Select Comfort Corporation’s investments have proceeded to differentiate its brand and strengthen its competitive advantages: proprietary innovations that provide meaningful sleep benefits for its customers; ongoing customer relationships that are enabled by a direct-to-consumer business model; and exclusive distribution that is highly productive and fueled by a mission-driven sales team.
TOP 10 HIGHEST RETAILER (SALES PER SF)
According to Fortune.com, in 2015 Sleep Number stores placed in the top 10 in the U.S. for highest sales volume per retail square foot ($1,023/SF). Other leading retailers which shared the prestigious designation with Sleep Number include Apple, Lululemon, Tiffany & Co,. and Coach. This ranking is attributable to Sleep Number’s initiative to locate in the most highly sought after demographic regions of the country and selecting the very best real estate within those affluent markets.