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1/18/17
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Bethany Towne Center, a 305.7k sf retail property in Phoenix, was purchased by an entity formed by Manhattan-based Goldman Sachs & Co in a recent $41.3 mil ($135/sf) transaction. The property, located at the northeast corner of Bethany Home Rd and 35th Ave, was sold by PDG America Shopping Centers LLC of Irving, TX.
At the time of sale, Bethany Towne Center was 92.3% leased to a complimentary collection of retailers. Walmart Supercenter anchors the shopping center, and makes up 67.5% of the gross leasable area. The remaining tenants, 95% of which are national/credit tenants, include Denny’s Wendy’s, Sonic, YouFit Health Clubs, Payless Shoes and Starbucks, among others.
Spanning just over 33 acres, Bethany Towne Center is situated approximately one mile west of I-17 and less than one mile north of Grand Canyon University. The property offers great visibility with monument signage on both sides of the property and provides a total of six points of access, with four along Bethany Home Road and two along 35th Avenue.
Michael Hackett and Ryan Schubert with Cushman & Wakefield represented the seller in the transaction.
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