Phoenix Commercial Advisors announced the closing of Shops at the Wells, shops shadow anchored by Walmart Supercenter on the northwest corner of Porter Road and Maricopa-Casa Grande Highway. The property, located on 1.69 acres at 41620 Maricopa-Casa Grande Highway, Maricopa, Ariz., sold for $4,815,000. The final price was 98 percent of the asking price and $369.82 per square foot.
The building, totaling 13,020 square feet, was 100 percent leased with a mix of local and national tenants, including State Farm, H&R Block, Great Clips, Papa John’s, Pacific Dental Services, Maricopa Wells Veterinary Hospital and I Smile Nails. Chad Tiedeman at Phoenix Commercial Advisors represented the seller, NA Maricopa, LP, in the transaction. The transaction is one of 35 retail investment property sales for the Phoenix Commercial Advisors’ Investment Team in the past 13 months.
“This area has seen and continues to experience great residential growth. That along with the strong necessity-based retailers made this an ideal investment,” said Chad Tiedeman.
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, tenant representation, development, investment and redevelopment services to local and national retailers and property investors. Offering the expertise of nearly 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.