Phoenix Commercial Advisors sells Tolleson shopping center for $24.5M
Phoenix Commercial Advisors closed on Crossroads at Tolleson, a regional shopping center anchored by NAPA Auto Parts. The property, located on 11.877 acres on the southeast corner of 99th Avenue and McDowell Road at 9897 W. McDowell Road, sold for a total of $24,500,000 or $248 per square foot.
The 98,598-square-foot center was 96 percent leased with a mix of local and national tenants, including NAPA Auto Parts, Sherwin Williams, Cricket Wireless, Sprint, Verizon, OneMain Financial, DXL, Firehouse Subs, and more. Zach Pace, Nick DeDona and Drew Butler at Phoenix Commercial Advisors leased the property. Chad Tiedeman and Steven Underwood at Phoenix Commercial Advisors represented the seller, TriGate Capital, in the transaction.
“This regional shopping center, one corner of the most dominant West-Valley intersection, serves the residents of Avondale, Phoenix, Glendale, Litchfield, Tolleson and beyond,” Tiedeman said. “During our marketing, we had several renewals from dynamic national tenants, which further solidified the strength of the center and the demand for the trade area. It’s also a great example of the strength that remains in the retail sector. Our leasing team, along with Steve and I, enjoyed working with such professionals on both sides of this successful exchange.”
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.