Cassidy Turley announced Wednesday that PDSI has sold Gateway Village in Glendale, to TriGate Capital as part of a $53 million sale of a national portfolio of retail properties.
Located at 5932-6070 W. Bell Road in Glendale, the 126,286 square foot shopping center is 80.1% leased to tenants such as Stein Mart, All America Pool & Patio, Cox Communications and Fast Signs. Gateway Village is the largest property in the retail portfolio, which totals 619,151 and also includes shopping centers in Pennsylvania, Georgia, South Carolina and Missouri.
Locally, Cassidy Turley Executive Managing Directors Michael Hackett and Ryan Schubert represented PDSI.
“Glendale is a strong retail market with household demographics and Bell Road traffic counts among the best in the state,” said Hackett. “Gateway Village is a good fit for TriGate’s expanding portfolio of value-add retail assets in the Phoenix metro, and the PDSI portfolio offers strong upside potential in multiple markets.”
