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8/19/25
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Lena Centers, a subsidiary of Longpoint, closed on a notable retail buy in Phoenix, having paid $71 mil for Stetson Village, a 144.2k sf ($492/sf), grocery-anchored shopping center at 3780-3890 West Happy Valley Rd. The property was sold by Pederson Group.
Built in 2007, Stetson Village is fully leased to a mix of national and regional diverse tenants across categories, including Capriotti’s, Nekter Juice Bar, UPS Store, First Watch, Great Clips, and many others.
The neighborhood center is located on 18.6 acres near the densely populated area of North Phoenix. Proximity to major demand drivers such as Sandra Day O’Connor High School, the Sentio Apartments and the $65 billion TSMC plant, which is expected to generate thousands of jobs and attract a robust supplier ecosystem, further enhances the center’s positioning.
Ryan Schubert, Michael Hackett and Zach Aulick of CBRE’s National Retail Partners arranged the transaction on behalf of both parties.
According to CBRE research, the North Phoenix submarket posted one of the largest declines in vacancy, as the rate fell by 50 bps during the second quarter of 2025 to 6.9%.
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