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August 12, 2022
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California Investor Buys Arizona Retail Center in $3 Mil Deal


Fletcher Heights Plaza, a 15.4k sf, multi-tenant retail property in Peoria, AZ, sold for $3 mil ($195/sf). The property, located at 8267-8279 W Lake Pkwy, is a part of a larger project that includes two additional strip centers.

Built in 2004, the property consists of two buildings. The first is a 2.2k sf building occupied by Cousin Vinny’s Pizza and Pasta restaurant, which has been at the property for more than a decade. The second is a 13.2k sf, multi-tenant strip center with tenants that include Dead Red Crossfit, Black Cadillac Salon, Arizona Medical Massage, Kung Fu and Richter Aleworks.

The asset is situated directly north of Beardsley Rd in the heart of Fletcher Heights master-planned community, which is surrounded by residential neighborhoods and located a mile from Loop 101 Fwy with easy access to Metro Phoenix.

Linda Robbins with Avison Young represented the seller, a California-based private investor. The buyer was an Arizona-based private investor.

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