Phoenix Commercial Advisors facilitated the sale of Union Hills Square. The retail shops, located on 7.02 acres on the northwest corner of the Loop 101 freeway and Union Hills Drive in Glendale, Ariz., sold for $10,432,000 or $200 per square foot.
The four buildings, totaling 52,248 square feet, were 95 percent leased with a mix of local service and restaurant tenants, including Sylvan Learning Center, Finance of America Mortgage, Celebrity Tanning and more. John Schweikert and Chad Tiedeman at Phoenix Commercial Advisors represented the sellers in the transaction.
“This property is well positioned for long-term appreciation with its below market rents that have compelling upside and a great balance of service-based retailers,” said John Schweikert.
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.