CBRE completed the $9M sale of 41.5 acres at 9801 W. Bethany Home Rd. in Glendale.
John Werstler, Jerry McCormick and Cooper Fratt of CBRE’s Phoenix office represented the seller, Stearns Bank of Scottsdale. American Furniture Warehouse of Englewood, Colo., was represented by Jeff Jennings of ProStar Realty in Phoenix.
“The proposed American Furniture Warehouse project will not only be a tremendous asset to the City of Glendale but will also help to further development along the 101 corridor,” Werstler said. “The completion of the Tanger Mall, the development of the new Dignity Health hospital and Bechtel’s move to the Glendale Corporate Center will all help to spur additional growth along the 101 corridor.”
Located on the SEC of Bethany Home Rd. and 99th Ave., the 41.5-acre site has one-half-mile frontage along the Loop 101, which is initially what drove American Furniture Warehouse to this particular site. Previously, the land was the planned site of the mixed-use Bella Villagio project, but, due to foreclosure, was acquired by Stearns in February 2010.
American Furniture Warehouse has plans to develop its second showroom and warehouse in the Valley at this location. This showroom is expected to be similar in size to the Gilbert location, which is currently under construction with plans to open next month. Much like the Gilbert location, the Glendale site is projected to have roughly 300 employees when it opens in mid-2014.
