Retail Pad at Boulevard at Surprise Pointe Trades for $2.1 Million

Cushman & Wakefield of Phoenix sells site on AMC Theater anchored center

PHOENIX, Arizona – Cushman & Wakefield sold a retail pad at Boulevard at Surprise Pointe, located at the southeast corner of Litchfield Road and Waddell Road in Surprise, Ariz. Old Republic Exchange Company of Carefree, Ariz. purchased the property from San Diego-based Surprise SE, LLC (an entity formed by CIRE Equity) for $2.1 million ($262 PSF).

Chris Hollenbeck of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.

The 8,009-square-foot site within Boulevard at Surprise Pointe, an AMC Theater and Uptown Alley Bowling anchored center. Built in 2008, the property is 100 percent leased to Jabz Boxing, T.E.A.M. 4 Kids and Maximus Nutrition. The 3.175-acre retail center is situated across from a planned 3,000 home residential development and adjacent to ESI Venture’s 154-acre mixed-use business park.

“We are happy to sell another property for CIRE Equity. It’s been exciting to watch them stabilize Boulevard at Surprise Pointe over the years,” said Chris Hollenbeck.