Phoenix Commercial Advisors closed on Glendale Center, retail shops and two pads anchored by both Goodwill and EOS Fitness, May 31. The property, located on 10.58 acres on the northeast corner of 51st and Olive avenues at 5016-5080 W. Olive Avenue, Glendale, sold for $14,800,000 or $147 per square foot. The final price was 96 percent of the asking price.
The shops and pads, totaling 100,812 square feet, were 90 percent leased with a mix of national and local tenants, including Goodwill, EOS Fitness, Dollar Tree, H&R Block, MetroPCS, Leslie’s Swimming Pool Supplies, The Honey Baked Ham Company and more. Danny Gardiner and Chad Tiedeman at Phoenix Commercial Advisors represented the seller, West Valley Properties, in the transaction. The transaction is one of 12 retail investment property sales for the Phoenix Commercial Advisors’ Investment Team in 2018.
“We would like to thank West Valley Properties for selecting us on the disposition of Glendale Center. I think this is the 11th sale we have done with WVP. over the past 10 years,” said Chad Tiedeman. “Danny Gardiner and I are grateful for the opportunity to work with such great people at West Valley and hope to do so again in the near future.”
Formed in 1994, Phoenix Commercial Advisors is a commercial real estate services company. The company specializes in retail commercial brokerage in Phoenix, Tucson, and surrounding Arizona communities, providing leasing services, tenant and landlord representation, investment sales and redevelopment services to local and national retailers and property investors. Offering the expertise of 250 combined years of experience, Phoenix Commercial Advisors is also member of ChainLinks Retail Advisors, the premier national retail platform connecting elite brokerage companies across the top 50 North American markets.