Cushman & Wakefield negotiated the sale of Bell Tower Village, a Walgreens anchored community shopping center located on the southeast corner of Bell Road and 51st Avenue in Glendale, Ariz., which sold for $14.75 million.
New Bell Tower LLC – a company formed by DPC Development Company, purchased the shopping center.
Cushman & Wakefield Executive Managing Directors Ryan Schubert and Michael Hackett represented the seller, Bell Tower Village LLC.
Developed in 1968 and renovated in 1994, Bell Tower Village encompasses 166,830 square feet of retail space.
The center is currently 63.6 percent leased. Spanning 14.96-acres, the property is home to well-known tenants including Walgreens, Planet Fitness, Harbor Freight Tools, Freddy’s Frozen Custard & Steakburgers, Audio Express and Mattress Firm.
“Bell Tower Village is strategically situated within an extremely dense in-fill trade area with attractive demographics. Together these characteristics created a remarkable value-add investment opportunity in Metro Phoenix for the buyer,” according to Schubert.