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PHOENIX — An entity formed by Canada-based Allard Developments has purchased Arcadia Fiesta, a shopping center located at the southwest corner of 32nd Street and Indian School Road in Phoenix. An entity formed by a joint venture between Arizona-based DeRito Partners and Van Tuyl Cos. sold the asset for $41.6 million.
The 154,436-square-foot Arcadia Fiesta was fully leased at the time of sale with 96 percent of tenants national retailers.
Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office represented the seller in the transaction.