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1/24/25
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In a recent shopping center trade out of Phoenix, Junam Enterprises Inc purchased Rancho Encanto, a 70.4k sf, grocery-anchored center, for $10.55 mil ($150/sf). The property is located at 3434 West Greenway Rd, just west of I-17. Rancho Encanto’s prime location at the high-visibility intersection of Greenway Rd and 35th Ave, its diverse tenant mix, and minimal competition in the area made it a sought-after investment.
Anchor tenants at the property include Smart & Final and Aaron’s, ensuring consistent foot traffic and positioning the center as a key player in the local retail landscape. The buyer’s intention is to continue to operate the successful center and lease the few remaining vacant suites.
Darren Tappen, Nathan Thinnes, Pete Beauchamp, and Patrick Gardner with Kidder Mathews represented the buyer and the seller, Dayanim Real Estate Corporation, in the deal. The new owner has selected Kidder Mathews to manage the property on its behalf.
“Rancho Encanto’s excellent positioning and mix of national and boutique tenants made it a standout investment opportunity, generating significant interest from both local and out-of-market buyers,” said Thinnes.
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