Phoenix Commercial Advisors facilitated the sale of Gilbert Crossing, a Crunch Fitness anchored center. The property, located on 7.32 acres on the northeast corner of Gilbert and Guadalupe roads in Gilbert, Ariz., sold for $11,000,000. The final price was 97 percent of the asking price and $176 per square foot.
The three buildings, totaling 62,542 square feet, were 97 percent leased with a mix of local and national tenants, including Crunch Fitness, UMB, Sunrise Preschools, Massage Envy and more. Danny Gardiner and Chad Tiedeman at Phoenix Commercial Advisors represented the seller, TriGate Capital, in the transaction.
“This is an established retail center with over half the tenants occupying the property since 2003 or before. Coupling this with the proximity to the Heritage District with all the tenant and development activity there has the property well positioned for the long term.” – Danny Gardiner
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.