CBRE Announces $4.45 Million Sale of Bell Plaza Retail Center

Phoenix, Arizona – CBRE negotiated the sale of a multi-tenant retail center located at Bell Road and 43^rd Avenue in northwest Phoenix. Estrella Properties, LP, based in Scottsdale, Ariz., acquired the property for $4.45 million.

CBRE’s Jesse Goldsmith, Steve Julius, and Chase Dorsett represented the seller, Bell Properties, LP.

“Orsett was a pleasure to represent. They meticulously maintained this retail asset since purchasing it in 1989 when they first made a presence in Phoenix. The buyer is acquiring a center with impeccable traffic counts and a hard corner pad that is hard to replicate,” said Goldsmith.

Located at 4251 and 4255 W. Bell Rd., Bell Plaza is 88 percent occupied and features a mix of local and national tenants including Circle K, Title Max, Watermill Express and MetroPCS.

The property is situated in a dense residential neighborhood with more than 56,000 household units in a three-mile radius. It also benefits from strong visibility along Bell Road with more than 58,000 daily vehicles.