Cushman & Wakefield completed the sale of Camelback Center, a CVS/Pharmacy anchored, neighborhood shopping center located on the northeast corner of Camelback Road and 16th Street in Phoenix, on behalf of an undisclosed seller.
Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the seller. Perry Investment Trust purchased the property for an undisclosed amount.
Anchored by CVS/Pharmacy and Total Wine (NAP), Camelback Center is a trophy neighborhood shopping center totaling of 32,963 square feet of retail space on approximately 3.85 acres and is currently 100% occupied with approximately 79% national/credit tenants including Chipotle, H&R Block, Massage Envy, European Wax Center and Jimmy Johns.
“The center enjoys an extremely high-quality, institutional-grade tenancy with 84% of the property’s rent roll being in operation at this location for 10 years or more,” said Schubert. “With an outstanding location, visibility and demographics, Camelback Center will continue attracting a large volume of consumers and high-profile tenancy, ensuring success over the long term.”