CBRE has completed the sale of the Shops at Dynamite & Tatum, a retail strip center located at 28255 N Tatum Blvd, in Cave Creek, Ariz. The property commanded a sale price of $1.9 million.
Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office negotiated the transaction on behalf the seller, Bainbridge Island, Wash.-based Pacific West Land. The buyer, Cave Creek Shoppers Mall, LLP, of Vancouver, B.C., Canada, was represented by Nathan Cardon of Cardon Commercial.
“The Shops at Tatum & Dynamite is a quality, well-leased and stable property,” said CBRE’s Julius. “It should provide the buyer with steady cash flow over the years.”
Developed in 2006, Tatum & Dynamite Plaza is located just north of the Desert Ridge area. It is conveniently located along the border of Phoenix and Cave Creek with Scottsdale’s border just to the east. The retail strip center totals 8,725 square feet and tenants include Goodwill Donation Xpress, Allstate Insurance, Pieh Tool Company, Summit Chiropractor, as well as a barber shop and a dentist.
