1944 S Greenfield Road | Mesa, AZ

Building Size (SF): 149,710

Land Size (Acres): 11.99 Acres

Status: Active

Description: Alignment acquired this single-tenant property in December, 2024 subject to an absolute NNN lease with the furniture and home goods store “At Home”. Alignment expected At Home to file bankrupcty, which they did in June of 2025.  Alignment re-negotiated favorable lease terms during the bankruptcy process, which included a take-back of the restaurant space included on the property.  At Home exited bankrupcty in October 2025 and will remain a tenant at the property.  The building basis of $74/sf and land basis of $21/sf provide attractive re-leasing or redevelopment optionality in the event the tenant leaves in the future.  The going-in cap rate of 7.90% provides attractive cash flow with 2.00% annual rent bumps.