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August 5, 2020
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TEXAS/SOUTHWEST NEWS
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AZ Retail Center Gets New Owner in $18.5 Mil Deal

1/13/20

The Groves, a 169.6k sf, Walmart shadow-anchored shopping center in Tempe, AZ, traded for $18.5 mil, or $109/sf.

The Groves is located at 1180 W. Elliot Rd, at the northeast corner of Priest Dr and Elliot Rd. The property is currently 91% leased to a diverse tenant roster including Walmart (NAP), Ross, PetSmart, Staples, Bob’s Discount Furniture, Beall’s Outlet and Dollar Tree to name a few.

Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.





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