90 Percent Leased Retail Center Sold by CRE Firm LevRose to California-based Buyer

PEORIA, Arizona — LevRose Commercial Real Estate, a leading Arizona-based commercial real estate brokerage and management company, closed the sale of Thunderbird Village in Peoria for $12.5 million ($152 PSF).

Located at 7518 W. Thunderbird Road, the 82,099-square-foot building includes a 90 percent leased retail center. California-based company, Deerwood Retail Opportunities AZ, LLC, purchased the property from CAZCO Asset Management Inc. The brokers for the buyer were Trent McCullough, Mark Cassell and Greg Vanlerberghe of LevRose Commercial Real Estate and the brokers for the seller were Ryan Schubert and Michael Hackett of Cushman Wakefield.

“Trent, Mark and Greg found their client an outstanding property to purchase,” said Jon Rosenberg, managing partner and co-founder of LevRose Commercial Real Estate. “It’s not always easy to find a property with the quality of tenants and occupancy that this investment currently has in place.”

With an expertise in both, office and retail tenant and landlord representation, sales transactions and property management, LevRose Commercial Real Estate has been serving the Valley since 1992. Locally owned LevRose is affiliated with TCN Worldwide, a consortium of independent commercial real estate firms providing complete real estate solutions locally, nationally and internationally.

For more information, please visit www.LevRose.com or call 480-947-0600.

The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from August 22 thru 26, 2016

RETAIL – 15602 N 35^th AVE., PHOENIX
A lease for 3,222-square-feet in The Palms Shopping Center to Filibertos was recently consummated.  The location of the property is 15602 N 35^th Ave in Phoenix, AZ.  The owner of the center is The Palms LLC.  Richard Mackay of Rein & Grossoehme Commercial Real Estate represented the owner and Greg Vanlerberghe of Levrose Commercial Real Estate represented the tenant.

RETAIL – 12436 N 28^th DR., PHOENIX
A lease for 1,384-square-feet in Metro Village Shopping Center to Ifamily Movers was recently consummated.  The location of the property is 12436 N 28^th Dr. Phoenix, AZ.  The owner of the center is Family Investments – Metro Village LLC.  Richard Mackay of Rein & Grossoehme Commercial Real Estate represented the owner and the tenant.

RETAIL – 12436 N 28^th DR., PHOENIX
A lease for 1,384-square-feet in Metro Village Shopping Center to Mirror Mirror Beauty Salon was recently consummated.  The location of the property is 12436 N 28^th Dr. Phoenix, AZ.  The owner of the center is Family Investments – Metro Village LLC.  Richard Mackay of Rein & Grossoehme Commercial Real Estate represented the owner and the tenant.

RETAIL – 3668 W. ANTHEM WAY, ANTHEM
A lease for 1,298-square-feet in Anthem East Side Shopping Center to H & R Block was recently consummated.  The location of the property is 3668 West Anthem Way in Anthem, AZ.  H & R Block has multiple other locations.  Jim Edwards of Rein & Grossoehme represented the tenant and Larry Miller of Velocity Retail Group represented the owner.

RETAIL – 6610 N. 47^th AVE., GLENDALE
A lease for 627-square-feet in Plaza 47 Shopping Center to Dobe Massage was recently consummated.  The location of the property is 6610 N 47^th Ave in Glendale, AZ.  The owner of the center is R & G 47^th Ave, LLC.  Richard Mackay of Rein & Grossoehme represented the owner and the tenant.

SCOTTSDALE, AZ – Commercial real estate developer SimonCRE purchased a +/- 3,170 SF freestanding retail building formerly known as the popular Dirty Drummer Restaurant and Bar. The building is located at 2730 N. Scottsdale Road near the intersection of Thomas Road & Scottsdale Road in Scottsdale, AZ.

SimonCRE will begin construction on substantial improvements to the exterior and interior of the building for an undisclosed retail tenant to be announced at a later date. Renovations include upgrading the exterior façade, remodeling the interior space and various site and utility improvements. Construction should commence within six months.

“We are starting to do a lot more redevelopment projects throughout the valley and this location was such an ideal investment since it was right in our backyard,” said Josh Simon, President of SimonCRE.  “We look forward to seeing what the next conversion of space will be”

Trenton McCullough, Greg Vanlerberghe and Peter McQuaid of Levrose represented the buyer, SimonCRE in the $1,100,000 purchase. Trent Goulette of Southwest Retail Advisors represented the seller, 2730 Scottsdale Partners, LLC.

Dirty Drummer’s other location at 44^th Street in Phoenix is still open.