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December 12, 2019
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RETAIL NEWS
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Southwestern Property Corp Buys Former JC Penney in Phoenix

6/28/19

The property is located at 9617 N. Metro Pkwy just west of I-17 at Peoria Ave. Southwestern Property Corp plans to redevelop the site into a high-end self-storage and boat/RV storage facility, or entertainment uses.

Metrocenter Mall includes 686k sf of existing buildings located on a 52-acre portion of a 130-acre Planned Unit Development (PUD) site in North Phoenix. Metrocenter represents the opportunity to redevelop a large regional suburban mall into an urban central core mixed-use project that is envisioned to have high density, multifamily housing, employment, retail, entertainment, and enhanced transit opportunities including an on-site future light rail station and existing bus station.

The potential mixed-use redevelopment site allows for a variety of uses including retail, office, multi-family, senior housing, healthcare, education, and much more. The site is currently configured with three existing anchor tenant buildings and a two-story enclosed mall building all of which can be re-adapted for new uses or removed to accommodate new construction under the very flexible PUD. The property is also located in an Opportunity Zone.

Brent Mallonee, Don Arones and Greg McMillan of Cushman & Wakefield’s Phoenix office represented the seller in the transaction.





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