The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 10, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



TEXAS/SOUTHWEST NEWS
Printer-friendly Version   Email an Associate
Exchange Investor Spends Over $900/sf for AZ Retail Asset

6/26/19

An 8.4k sf, multi-tenant retail property in Glendale, AZ sold for $7.6 mil, or $905/sf. Situated on 1.37 acres at 7870 W. Bell Rd, the asset is 100% leased by four tenants – The Habit Burger Grill, Tempur-Pedic, Pearle Vision, and Blaze Pizza. It is an outparcel to Arrowhead Towne Center.

Built in 2017, the property is situated on a busy signalized intersection and is one-half mile from Loop 101. The property benefits from Arrowhead Towne Center which totals approximately 1.2 msf and is the highest volume regional mall in the state of Arizona with major tenants including AMC Theatres, Dick’s Sporting Goods, Dillard’s, JCPenney, and Macy’s among others.

Rich Walter, Pat Kent and Parker Walter with SRS Real Estate Partners’ Investment Properties Group represented the buyer, a Newport Beach-based private investor who was in a 1031 exchange. Bill Asher and Jeff Lefko with Hanley Investment Group Real Estate Advisors represented the seller, ECC Bell Road Property LLC, based in Indianapolis. The closing cap rate was 6.25%.





Return to the Archive page


 


 
 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media