Cassidy Turley announced that Rosenthal & Rosenthal, Inc., through its affiliate Broadway Tenth/Flagstaff, LLC, purchased a retail property leased to Whole Foods in Flagstaff, Ariz., for $11.69M The property is located at 320 S. Cambridge Ln. and is part of the Aspen Place at the Sawmill development.

Executive Managing Directors Ryan Schubert and Michael Hackett with Cassidy Turley’s Retail Capital Markets Group represented the seller, Sawmill NF, LLC, an affiliate of The Aspen Group.

“This investment represented an extremely unique opportunity for Broadway Tenth because of the high quality construction, freshly signed 20-year lease by Whole Foods and annual increases in the rental stream,” Hackett said.

Built in 2010, the property is strategically located near Northern Arizona University and the center of Flagstaff at the corner of Butler Avenue and Lone Tree Road. Aspen Place at the Sawmill tenants include REI, Chico’s, Eddie Bauer, Flagstaff Jean Company, Wildflower Bread Company and Pita Jungle.