Retail Archives

2017 Outlook: Retail shifts from ‘bricks to clicks’

Scottsdale Fashion Square
by in AZRE Magazine | Retail

The “shift from bricks to clicks” in the retail industry describes a growing trend of retailers who are selling products online instead of at brick-and-mortar stores and shopping centers. In retail, net absorption remains low and vacancy higher than expected, but the most growth is being concentrated in a few hot submarkets like Central Phoenix… Read More →

Mesa retail center near U.S. 60 sells for $4.55M

by in AZRE Magazine | Retail

A 30,195-square-foot Mesa retail center anchored by a Safeway, located at Val Vista Drive and Southern Avenue,  was sold for $4,550,000 by Pac West Land LLC. Arizona Partners purchased Stonebridge Shopping Center, which was 69 percent occupied at close of escrow. Andrew Harrison and Ari Spiro at ORION Investment Real Estate represented both the buyer and… Read More →

Bush’s Chicken coming to Old Town Scottsdale area

Bush's Chicken
by in AZRE Magazine | Retail

SimonCRE purchased a retail property located just outside of Old Town Scottsdale at Scottsdale and Thomas Roads, and is leasing the property out to a chicken restaurant. The 4,200-square-foot property was purchased from Astria Realty by SimonCRE for $1,492,460. SimonCRE plans to redevelop the property before its upcoming tenant, Bush’s Chicken moves in this summer. Bush’s Chicken… Read More →

Pima Crossing retail center sells for $46.15M

Pima Crossing
by in AZRE Magazine | Retail

Cushman & Wakefield negotiated the $46.15 million sale of Pima Crossing, a shopping center located on the northwest corner of Shea Boulevard and Pima Road in Scottsdale, Ariz. An entity formed by Los Angeles-based Karlin Real Estate purchased the property from Florida-based Regency Centers LP. Cushman & Wakefield Executive Managing Directors Michael Hackett and Ryan Schubert represented… Read More →

Mesa retail center sells for $4.825M

Mesa
by in AZRE Magazine | Retail

A Mesa retail center, The Shops at Fry’s Marketplace, was sold for $4.825 million, according to  NAI Horizon, which represented the buyer in the deal. KEB Investments LLC sold the property, located near McKellips Road and Stapley Drive, to Stapley & McKellips Investors LCC. The NAI Horizon investment sales team of Senior Vice Presidents Lane Neville and Barbara… Read More →

The Wedge adds unique twist along Rural Road

Wedge
by in AZRE Magazine | Retail

What was formerly a 16,000-square-foot bookstore for the many Arizona State University students is now The Wedge, an 11,800-square-foot adaptive reuse retail hub in Tempe. Originally built in the 1970s, the flesh-tone brick bookstore located at 1015 S. Rural Rd., was retooled into retail space for up to six tenants. It stands as an example… Read More →

Walgreens anchored shopping center sells for $14.75

Walgreens
by in AZRE Magazine | Retail

Cushman & Wakefield negotiated the sale of Bell Tower Village, a Walgreens anchored community shopping center located on the southeast corner of Bell Road and 51st Avenue in Glendale, Ariz., which sold for $14.75 million. New Bell Tower LLC – a company formed by DPC Development Company, purchased the shopping center. Cushman & Wakefield Executive Managing… Read More →

Casa Grande retail strip sells for $1.8M

Casa Grande
by in AZRE Magazine | Brokerage | Retail

A multi-tenant retail strip center in Casa Grande sold for $1.8 million to SimonMed Imaging, accoriding to Commercial Properties Inc./CORFAC International (CPI). Mike Sayre of Cushman Wakefield represented the buyer, SimonMed Imaging, and Sarge Glenn of CPI’s Industrial Team represented the seller, LBUBS 2004-C8 Retail 1664 LLC. The property is located at 1664 E. Florence Blvd. in Casa… Read More →

Old Navy coming to Scottsdale Promenade

Old Navy
by in AZRE Magazine | Retail

Velocity Retail Group’s Darren Pitts and Dave Cheatham represented Old Navy (a division of Gap, Inc.), in a lease at the Scottsdale Promenade shopping center located at the southeast corner of Frank Lloyd Wright Boulevard and Scottsdale Road. The 11,008-square-foot store celebrated its Grand Opening on November 9, 2016. The shopping center is owned by an… Read More →

Wasson builds new retail center, demolishes iconic building

by in AZRE Magazine | Construction | Retail

For Mesa-based Wasson Commercial Contracting, it’s in with the new and down with the old at two construction sites in the Valley. Wasson completed construction on a 13,000-square-foot retail building at the NEC of Dobson and Bass Pro Drive at Mesa Riverview. As that project was going up, Wasson was salvaging the building that once… Read More →

Report: retail to have strong 2016 finish after cool summer

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

The Greater Phoenix retail market experienced a cooling effect over the summer months of third quarter with net absorption slowing and vacancy rising for the first time since 2014 , according to Colliers International’s retail report. Colliers International experts anticipate a strong finish for 2016 as fourth quarter retail picks up pace. Net absorption remained… Read More →

Arizona Center will get a $25 million makeover

Arizona Center
by in AZRE Magazine | Retail

Arizona Center, Phoenix’s original downtown entertainment destination located at Third and Van Buren Streets, will undergo a significant transformation beginning early 2017. Acquired by Parallel Capital Partners and Angelo, Gordon & Co. in December 2015, the new Arizona Center will embark on a $25 million makeover in 2017. “The Arizona Center refresh will create a new model for… Read More →

Adaptive reuse project revitalizes Roosevelt Row Arts District

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

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 →