Retail Archives

The Boulders announces new ownership at el Pedregal

el Pedregal shopping
by in AZRE Magazine | Multi-Family | New to Market | Retail

New ownership at el Pedregal brings new opportunities for tenants to join the one-of-a-kind outdoor shopping center anchored by the legendary Boulders Resort. Considered to be a niche shopping destination, the iconic el Pedregal is distinguished by its architecture, variety of shops, dining and an outdoor entertainment area that draws winter visitors, snowbirds, local residents… Read More →

WSS Footwear retailer expands footprint in Phoenix

Mesa Store Opening 3
by in AZRE Magazine | New to Market | Retail

Velocity Retail Group’s Darren Pitts and Andy Kroot represented WSS Footwear, an urban specialty footwear retailer, in their Arizona expansion this month with one new store opening in Mesa and two stores opening in Phoenix. Each of the stores range in size from 10,000 – 12,000 square feet. “WSS is continuing its corporate growth plan to… Read More →

Blaze Pizza comes to Tempe thanks to SimonCRE

Blaze Pizza

Commercial real estate developer SimonCRE purchased a +/-3,300 SF freestanding retail building in the heart of the ASU trade area and will begin renovations immediately for Tempe’s newest chain, Blaze Pizza, set to open in the spring. The building, located at 105 W. University, sits just west of the intersection of Mill Avenue and University… Read More →

Two Valley shopping centers sell for combined $16.4M

51st Olive Square

Two high-profile shopping centers sold in separate transactions in the past 60 days: Fry’s Food Store-anchored 51st & Olive Square at 5116 W. Olive Ave., Glendale for $9,250,000 ($165.40 per SF) and Playa Del Norte, 555 N. Scottsdale Rd., Tempe for $7,100,000 ($617.44 per SF). At 51st & Olive Square, Lee & Associates principals Patrick Dempsey… Read More →

NAI Horizon sells retail property for $1.575M Vadim Guzhva

John Filli of NAI Horizon represented the seller, Kadkhodaian, LLC in the negotiated sale of a 21,884 SF retail property, for $1,575,000. The property is located at 1316 S. Longmore Rd., Mesa, AZ. This was a sale of an Adaptive Reuse Building consisting of a former AMC Theater with 4 Auditoriums, a 1,402 SF Retail… Read More →

Camelback Crossing shopping center sells for $14.5M


Cushman & Wakefield has announced that Madison Plaza 1, LLC, an entity formed by a California investor, purchased Camelback Crossing for $14.5 million. The Seller was Nevada Holding Co., L.P., a Delaware Company. Executive Managing Directors Ryan Schubert and Michael Hackett of Cushman & Wakefield negotiated the sale on behalf of the seller. Built in… Read More →

Phoenix retail development makes a slow comeback


The retail land market in the Phoenix area is waking up from its nearly seven year dormancy. While sales and development for retail pads and in-fill parcels has been at an all-time high, the development of new shopping centers has remained at a stand-still – and with good reason. The housing boom and subsequent bust… Read More →

GPE secures sale of former Eva’s Fine Mexican Food


GPE Commercial Advisors, an award winning commercial real estate firm in Arizona, secured the sale of a 14,426 SF mixed use property located at 2033 North Pinal Avenue in Casa Grande. The former restaurant sold for $1,330,000 ($92.19/SF). Senior Vice President, Bret Isbell represented the Seller, Jeril Benedict of KW Commercial represented the Buyer. The… Read More →

Westwood Financial Corp. buys Avondale Fiesta mall


Westwood Financial Corp. (WFC), one of the largest privately held owner-operators of grocery-anchored retail properties in the United States, announced the acquisition of the Avondale Fiesta shopping center for $7.6 million. The Kroger shadow-anchored center is 34,129 square feet and is located at 11435 West Buckeye Road in Avondale, Arizona, in the greater Phoenix area. Avondale… Read More →

Hines sells 1.45-acre retail pad at Kierland One

Kierland One

Hines, the international real estate firm, recently sold a 1.45-acre retail pad at Kierland One, an office building in the North Scottsdale Airpark submarket, to Arizona State Credit Union and Cole Investment Group. Arizona State Credit Union purchased a 25,696-square-foot parcel and has plans to build a 4,400-square-foot state-of-the-art branch, which will include a drive… Read More →

Evergreen breaks ground on Litchfield Marketplace

Litchfield Marketplace
by in AZRE Magazine | Construction | New to Market | Retail

Evergreen Development has announced that it recently purchased, and will soon break ground on Litchfield Marketplace, a 20.9-acre retail development at the northeast corner of Camelback and Litchfield Roads in Litchfield Park. “The West Valley is full of new growth and development, and we’re pleased to be part of it,” said Laura Ortiz, Evergreen’s managing principal… Read More →

Power center on I-17 freeway poised for redevelopment

Just south of Metrocenter Mall, situated at the northwest corner of Dunlap Avenue and the I-17 Freeway, sits a major retail center on the verge of redevelopment. The property, which features approximately 210,000 square feet of retail space on just over 15 acres of land, is known as Metro Marketplace and its new owner has… Read More →

NAIOP members’ office and industrial projects

SkySong, The ASU Scottsdale Innovation Center — SkySong 4

Project profile criteria per NAIOP: Property must be owned or have non-refundable earnest money in escrow by 8/1/15. Property must have a color site plan and color rendering completed. Property must have proper zoning in place. Property must be bigger than 100,000 square feet Amkor Headquarters  Developer: Ryan Companies US, Inc. General Contractor: Ryan Companies… Read More →

Sunstate Bank Plaza in Chandler sells for $1.61M

Sunstate Plaza

Sunstate Bank Plaza, located at 1727 North Arizona Avenue in Chandler, sold for $1,610,000 at $85.57/SF. This flex building is a mix of retail, office, and industrial, totaling 18,818 rentable square feet. Situated on approximately 1.79 acres, the property was constructed in 1979 and renovated in 2001. The building was 85% occupied at close of… Read More →