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MREIS
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CENTRAL CALIFORNIA REDEVELOPMENT OPPORTUNITY

713 MERCED MALL | MERCED, CA 95348

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Redevelopment MALL

OPPORTUNITY OVERVIEW

Serving a large geographic section of California’s Central Valley, Merced Mall is undergoing a major redevelopment to ensure its long-term dominance in the market. The 53-acre shopping destination will move towards becoming more entertainment and service-driven which will result in more foot traffic and repeat customers.

Positioned among Buildings C & D, a third of the enclosed mall will be demoed and reconfigured to make room for a 56,000 square-foot luxury Cinemark movie theater, Cinemark has a contingent lease in place, and an outdoor Theater Square, featuring a promenade with gathering space and multiple restaurants.
Birds eye signage 5.9.22
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FINANCIAL OVERVIEW 

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Sale Price

MARKET TO

DETERMINE

measuring (2)

GLA

±328,923 SF

calendar (4)

Big Box WALT

±6.7 YRS

27.83 AC
LOT SIZE 

 

34
INLINE TENANTS

 

80.2%
BLDGS A & B OCCUPANCY

 

STRUCTURED
VACANCY
BLDGS C & D OCCUPANCY

328,923 SF
GLA

 

$30M+
TAX GENERATED

 

±6.7 YRS
BIG BOX WALT

 

<1 YR
INLINE WALT

 

INVESTMENT HIGHLIGHTS

MERCED, CA GROWTH

Located in the rapidly growing Central region of California, the city of Merced is projected to experience significant population growth. California’s population is estimated to grow by over 10M people by 2030, San Joaquin Valley is expected to see a significant portion of this growth. The City of Merced has planned for a growing community while preserving its small town feel.

NEW DEVELOPMENT - MERCED GATEWAY

Under 5 miles from Merced Mall at Highway 99 and Campus Parkway interchange is the location of the new ±77 acre master planned community of Merced Gateway. This development has 496 planned apartment units and 2,200 detached residential units. The new development also includes connecting South and North Merced via a 4 lane expressway.

VALUE-ADD PROPOSITION | BASIS

This offering is positioned to provide an investor an exceptional basis. Pricing expectations are grounded in Retail Land Value and Discounted Replacement Value.

READY-BAKED

Ownership has worked with the city of Merced to fully permit the redevelopment/repositioning of the premises. The City of Merced will act like a partner in facilitating the develop plans due to the Mall’s ground-zero location within the city.

REPOSITIONING

Only Kohl’s and JCPenney have more than 5 years of term remaining, which allows for full discretion in creating a new site plan. The Open-Air Concept site plan has been created to build a modern campus for all customers. While the option to create an Experiential Use, including Cinemark’s approval of the site feasibility would drive
foot traffic for all tenants.

REDEVELOPING

The site also has the potential for Housing and Student Housing to create a mixed-use campus. Having an ultralow basis only enhances the optionality of the project, as it allows for more opportunities to increase equity.

per placer ai.

PLACER STATS

3.66M

MERCED MALL VISITORS ANNUALLY

#2

MERCED MALL’S RANK IN
REGIONAL VISITS

Per Placer Ai., of the 66 regional malls in California, Merced Mall receives over 3.66 million visits annually, ranking in the top 55% in the State and 80%
in the Country. The National median visit count for Regional Malls in the United States is 1.768 million. Within 100 mile radius of the site, Merced Mall
ranks no. 2 in regional visits.

Merced Mall-851 W olive Ave-Merced-CA-GS@4x
1. SHERWOOD MALL
Visits 4M (84% California) GLA 790,000 SF
Occupancy 80% Distance from Subject ±69 Miles
Anchors Dick’s Sporting Goods, HomeGoods, Sprouts Farmers Market, Burlington
2. MERCED MALL
Visits 3.66M (54% California) GLA 328,923 SF
Occupancy 67% Distance from Subject Subject Property
Anchors JCPenney, Kohl’s & Target (NAP)    
3. FIG GARDEN - FRESNO
Visits 3.5M (51% California) GLA 518,000 SF
Occupancy % Distance from Subject ±50 Miles
Anchors Whole Foods (NAP), Lululemon    
4. VISALIA MALL - VISALIA
Visits 4.8M (51% California) GLA 435,000 SF
Occupancy % Distance from Subject ±92 Miles
Anchors JCPenney & Macy’s    

 

MERCED, CA

AREA OVERVIEW

merced mall map-1
Merced Mall-851 W Olive Ave-Merced-CA-Site Planv2@4x
Merced-CA-Employers@4x
Merced-CA-Attractions@4x
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EXCLUSIVELY LISTED BY:

 

MATT LOPICCOLO
Lead Listing Agent, First Vice President
 
DIR +1 (858) 289-3957
MOB +1 (858) 336-1518
License No. 01835052 (CA)
CLAY SMITH
Vice President
 
DIR +1 (615) 412-1630
MOB +1 (404) 316-3197
License No. 361676 (TN)
KEEGAN MULCAHY
Market Leader
 
DIR +1 (310) 955-1782
MOB +1 (415) 847-5588
License No. 02067187 (CA)

 

BROKER OF RECORD
David Harrington
License No. 02168060 (CA)