Fully leased property acquired by investor from Los Angeles area
PHOENIX, Arizona – Cushman & Wakefield has brokered the net leased sale of a 100% leased multi-tenant retail property in Goodyear (Phoenix), Arizona. Located at 790 N Estrella Pkwy, the 12,561-square-foot freestanding asset is anchored by a national paint store along with other regional and national tenants.
Los Angeles-based Mesa Terrace, LLC acquired the asset from Estrella Parkway Investors, LP for approximately $5.12 million.
Chris Hollenbeck and Andrew Bogardus with Cushman & Wakefield’s offices in Phoenix and San Francisco represented the seller in the transaction.
“This was an attractive, stable retail asset with strong, e-commerce resistant tenancy, and strategically located with frontage along N Estrella Pkwy close to Interstate 10,” said Chris Hollenbeck.“
The property was built in 2006 and is situated among several other popular retailers, shopping destinations and residential communities located along N. Estrella Pkwy and nearby.