Retail Archives

Adaptive reuse project revitalizes Roosevelt Row Arts District

The Blocks at Roosevelt Row (Photo courtesy of Desert Viking)

A NEW DOWNTOWN PROJECT MERGES CHEF-DRIVEN DINING, ARTISAN RETAILERS AND WORKING ARTIST STUDIOS AND GALLERIES TOGETHER IN ONE COLLECTIVE SPACE ~The Blocks of Roosevelt Row Indulges Guests with a Place to Connect, Create and Collaborate~ Desert Viking Development is thrilled to announce a new project underway revitalizing a portion of the Downtown Phoenix’s beloved Roosevelt… Read More →

2 property retail portfolio sells for $72.5M

Tenants at La Mirada include the renowned Maestro’s Steak House, Walgreens, Starbucks, Jade Palace, Russ Lyon, Sotheby’s, and Pima Animal Hospital. (Photo courtesy of Lee & Associates)
by in AZRE Magazine | Brokerage | Retail

A two property Class A retail portfolio in Scottsdale, which includes Scottsdale Seville and La Mirada Shopping Center, sold for $72,500,000 million, according to Lee & Associates. The Fincham Dempsey Team at Lee & Associates, led by principals Jan Fincham and Pat Dempsey, facilitated the transaction along with Lee principals Craig Coppola and Andrew Cheney and… Read More →

North Scottsdale shopping center sells for $72.5M

Sonora Village
by in AZRE Magazine | Retail

The Fincham Dempsey Team at Lee & Associates brokered the sale of the Sonora Village retail shopping center for $72,500,000. The property is located at the southwest corner of Frank Lloyd Wright Boulevard and Loop 101 in North Scottsdale. Sonora Village is a Class A regional power and entertainment center built in 1986. The sale consists of 269,369… Read More →

Trends to watch in 5 commercial real estate markets


It’s that time of year again when commercial real estate firms analyze market activity based on numbers and reports from the first two quarters of the year, and predict how that will impact the rest of 2016 through next year. Experts in their respective markets weighed in on the findings from quarter two reports in… Read More →

Former RoomStore sells for $8.25M

by in AZRE Magazine | Brokerage | Retail

The former RoomStore furniture store at 15826 N. Scottsdale Rd., in Scottsdale sold for $8,250,000 or $263.00-per-square-foot. The company filed bankruptcy in December 2015 and closed all Arizona stores, including this location. Tom Boyle, principal with Lee & Associates, brokered the transaction. The buyer was Phoenix-based Bridge Enterprises LLC, Phoenix, and Scottsdale-based DJD Property Holdings LLC, was… Read More →

Retail gains momentum in southeast valley

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

Through the first half of 2016, the southeast Valley accounted for two-thirds of new retail product in the metro area, according to a recent MarketFlash report by CBRE’s Phoenix research team. As population growth occurs, new retail space is needed to meet demand from new residents. Currently, the southeast Valley is the most active new… Read More →

Retail pads are hot in Phoenix

by in AZRE Magazine | Investment | Retail

It is not only the weather that is hot in Phoenix. Shopping center outparcels, also known as “pads” are sizzling hot. Presently there are nearly 200 outparcel properties under construction or proposed in the Phoenix metro area, according to CoStar, a leading commercial real estate information source. These proposed projects range in size from 2,500… Read More →

Scottsdale and Pinnacle Peak Roads retail center sold for $47M

by in AZRE Magazine | Brokerage | Retail

JLL Income Property Trust, an institutionally-managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), acquired a newly built Scottsdale retail center for $47 million. Silverstone Marketplace is anchored by a Sprouts Farmers Market, and the 78,000-square-foot property is 100 percent leased to a variety of national and regional tenants with a weighted average remaining lease… Read More →

Vestar acquires Gilbert retail center for $17.96 million

by in AZRE Magazine | Retail

Phoenix-based real estate firm Vestar acquired Lakeview Village at Morrison Ranch, a 93,741-square-foot grocery-anchored neighborhood center in Gilbert for $17.96 million. Situated on 16 acres at the southeast corner of Higley and Elliot Roads, Lakeview Village at Morrison Ranch is leased to several national and regional retailers including Bashas’, Bank of America, Panda Express, Great Clips, UPS Store, H&R… Read More →

Page retail center sells for $1.95M

by in AZRE Magazine | Brokerage | Retail

ORION Investment Real Estate negotiated the sale of Gateway Park Shopping Center, on behalf of the seller, for $1,950,000 ($23.84-per-square-foot). The property was sold by CopperPoint Mutual Insurance Company. D&S Gardner 3, LLC purchased the asset, who was represented by a local broker in Page, Arizona. Gateway Park Shopping Center is located at the intersection of… Read More →

Gilbert retail center sells for $17.97M

by in AZRE Magazine | Brokerage | Retail

Cushman & Wakefield negotiated the sale of Lakeview Village, a grocery-anchored neighborhood shopping center located in the Morrison Ranch master-planned community, at the southeast corner of Elliot and Higley Roads in Gilbert, Ariz. for $17.97 million. Cushman & Wakefield Executive Managing Directors Michael Hackett and Ryan Schubert represented the seller, Lakeview Village Center, LLC, which is… Read More →

Scottsdale shopping center gets facelift

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

Construction is starting up on a major renovation project for the shopping center known as Via Linda Crossroads in Scottsdale. The space located at 9015 E. Via Linda on the southeast corner of 90th Street and Via Linda was previously occupied by Ace Hardware. That space will be divided into two or three smaller suites and a… Read More →

SimonCRE to build Goodwill in Surprise

by in AZRE Magazine | Construction | Retail

Commercial real estate developer SimonCRE recently purchased 2.13 Acres of land on the southwest corner of Greenway Road and Cotton Lane to develop a 25,036-square-foot building for Goodwill. Goodwill will be joining Pet Club and CVS in the Sierra Montana Crossing Center across from Marketplace at Prasada. SimonCRE plans to break ground July 26th with… Read More →

Orion sells multi-tenant retail complex for $8.9M

by in AZRE Magazine | Retail

ORION Investment Real Estate negotiated the sale of a Mountain Side Fitness anchored retail center, Plaza at the Orchards, which sold for $8.9 million to a Gilbert-based buyer. Terra Marketing, Inc. purchased the 52,134-square-foot center, which is located near Bell and Reems Roads was 100 percent occupied at the close of escrow. Ari Spiro and Sean Stutzman, President… Read More →