Colliers International in Greater Phoenix recently completed the sale of Arrowhead Lakes Marketplace, a 22,280-square-foot, grocery-anchored retail center for $6 million ($269.30 per square foot).
DCL Investments, LLC of Marreno, La., purchased the property, located at 20329 North 59th Avenue in Glendale, from AHR, LLC of Scottsdale.
Steve Gonzalez, senior vice president; Marcus Muirhead, vice president; and Greg Guglielmino, senior associate; all of Colliers International, represented DCL Investments LLC. The seller was self-represented.
The 92 percent leased Arrowhead Lakes Marketplace is located on 2.26 acres at the northeast corner of 59th Avenue and Beardsley Road, immediately north of Loop 101. It is part of a larger shopping center anchored by Albertsons.
“The property benefits from its location at the entry to the Arrowhead Ranch, an exclusive master-planned community,” said Gonzalez, adding, “It has a history of strong occupancy due to its location within this dynamic submarket.”