CBRE Sells Palm Valley Pavilions East in Goodyear

CBRE has completed the sale of Palm Valley Pavilions East in Goodyear, Ariz. The 35,199 SF retail center commanded a sale price of $4.8M.

Andrew Fosberg, Steve Fernandez and Joseph Compagno of CBRE’s Phoenix office represented the seller, MEI Properties LLC of Buena Park, Calif. The international buyer, Toronto, Ontario-based Claxton Real Estate LP 1, was represented by Tivon Moffitt and Peter Bauman with Colliers International in Phoenix.

We continue to see an influx of Canadian investors in the metro Phoenix market,” said Fosberg. “We are seeing many of these investors shift their strategy from looking to purchase bank owned properties to well-located, stabilized assets, such as Palm Valley Pavilions East.”

Palm Valley Pavilions East is located at the southeast corner of Litchfield Road and McDowell Road and is adjacent to the masterplanned community of Palm Valley. The shopping center is shadow anchored by Target and tenants include Michael’s and Starbucks. The retail center was 100 percent occupied at the time of sale.  


About Amanda Ventura

Amanda Ventura is an editor, award-winning writer and pop culture enthusiast. When she's not up against deadlines, she is exploring Arizona, trying recipes that require every dish in her kitchen be used, collecting 5K swag bags and race numbers and volunteering at a local animal shelter. Her bookshelf is full of autobiographies and her desk is covered in Sticky Notes. She dislikes the Oxford comma and still cannot believe she gets to meet and write about interesting people for a living.