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4/10/19
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Houston-based Weingarten Realty acquired Madison Village Marketplace, a 90.3k sf, Safeway-anchored shopping center in Phoenix, for $20.3 mil ($225/sf). The property was sold by Phoenix-based Bayless Investment & Trading Company.
The center, located at the northeast corner of 7th St and Glendale Ave, is anchored by a top-performing Safeway which occupies 49.4k sf of the leasable area. Developed in 1997, Madison Village Marketplace is currently 91.3% leased with major tenants including Orangetheory Fitness, Sauce Pizza and Wine, Pei Wei Asian Kitchen and Leslie’s Pool Supplies.
Ryan Schubert and Michael Hackett of Cushman & Wakefield were involved in brokering the deal.
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