Phoenix, Ariz. - CBRE has completed the sale of Town Square at Surprise located at 14155 W. Bell Road in Surprise, Ariz. The free-standing, ±12,771-square-foot retail strip center commanded a sale price of $2.7 million ($211 PSF). It was 81 percent leased at time of sale.
Barry Gabel, Chris Marchildon, Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office negotiated the sale on behalf of the seller, Phoenix-based Surprise Center Development Company, LLC. They buyer was MA & MA Investments, an Arizona limited liability company, and was represented by Philip Wurth with Colliers International.
Developed by a joint venture between Columbus, Ohio-based Glimcher and Carefree Partners Investments, LLC of Scottsdale in 2008, Town Square at Surprise is a contemporary, free-standing retail strip center located in a rapidly developing area. As part of the Surprise Civic Center development and with proximity to the Surprise spring training facility as well as residential, medical, office, big box retailers and hotels, the property benefits from numerous amenities. Additionally, current tenants include several popular establishments including Pei Wei Asian Diner, Jimmy Johns, Edward Jones, R&S Mattress and The Joint, a lifetime family wellness chiropractic place that will continue to drive traffic to the retail center.
Gabel, Marchildon, Julius and Goldsmith can be reached in CBRE’s Phoenix office at (602) 735-5555.