Phoenix Commercial Advisors facilitated the sale of The Collective Shops, six-tenant shops in the heart of Tempe, Ariz., shadow-anchored by Alamo Drafthouse Cinema. The property, located on 2.59 acres on the northeast corner of Rural and Baseline roads at 1120 and 1128 E. Baseline Road, sold for $8,328,000 or $560 per square foot.
The two buildings, totaling 14,883 square feet, were 100 percent leased to a mix of international, national and regional retailers, including Menchie’s Frozen Yogurt, Pure Barre, Boardroom Salon for Men, Artichoke Basille’s Pizza, Scramble, and The Porch. The shops are part of The Collective on Baseline, a new mixed-use development catering to surrounding multi-family communities. Chad Tiedeman at Phoenix Commercial Advisors represented the seller in the transaction.
“The trendy, urban mix of tenants at these brand-new shops are really geared toward the youthful demographics of Tempe,” said Tiedeman. “They are close to ASU’s Tempe campus and are walkable from the dense surrounding residential communities. The location and overall quality allowed us to obtain a quick closing for both parties.”
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.
OX Urban Properties agents Jose Ramirez and TJ Claassen were responsible for the leasing of this shopping center.