Arizona

GOODYEAR, ARIZ. — Marcus & Millichap has arranged the sale of a retail building located at 15578 W. McDowell Road in Goodyear. A limited liability company sold the property to a limited liability company for $4 million. The property includes a 10-year absolute, triple-net corporate lease with 10 percent rental increases every five years. AAA occupies the 8,540-square-foot building, which is situated on 1.1 acres. Mark Ruble, Chris Lind and Jamie Medress of Marcus & Millichap’s Phoenix office represented the seller, while Matt Hager with Intero Commercial represented the buyer in the deal. Alan Laaulainen, also of Marcus & Millichap Phoenix, assisted in procuring the buyer.

CHANDLER, ARIZ. — Evergreen Devco has acquired Chandler Pavilions, a shopping center located at 800-890 N. 54th St. in Chandler. Invesco sold the asset for an undisclosed price. Built in 1998, the value-add center features 163,594 square feet of retail space. Current tenants include REI, Bed Bath & Beyond, Golf Galaxy and Cost Plus World Market. Pat Dempsey of JLL represented the seller. Phoenix Commercial Advisors will continue to serve as leasing agents for the property.

PHOENIX — Newmark Knight Frank (NKF) has brokered the sale of Crossroads at Deer Valley Plaza, a shopping center located at 1838 W. Bell Road in Phoenix. An investment group led by Jeff Geyser sold the property to an undisclosed buyer for $5.8 million. The transaction includes the retail center and two billboards. Built in 2008 and remodeled in 2018, Crossroads at Deer Valley Plaza is fully occupied by a variety of tenants, including Eyeglass World, Wing Stop, L.A. Insurance, Royal Vapor, Cricket and DC Dental. Jesse Goldsmith, Steven Julius and Chase Dorsett of NKF represented the seller in the transaction. Jason Fessinger and Kalen Rickard of Western Retail Advisors represented the buyer.

LITCHFIELD PARK, ARIZ. — SRS Real Estate Partners has arranged the sale of a large portion of Wigwam Creek Shopping Center, located at 13000 and 12958 W. Indian School Road in Litchfield Park. A Colorado-based family office sold the asset to a California-based private investor for $9.2 million. Built in 2002, Wigwam Creek Shopping Center totals 33,792 square feet. Anytime Fitness, Baskin Robbins, Subway, Fantastic Sams and Leslie’s Poolmart are among the 17 tenants that fully occupy the property. The center also includes Albertsons, McDonalds, BBVA Bank, Circle K and KFC, which were not part of the transaction. John Redfield, Ed Beeh and Alan Houston of SRS’ National Net Lease Group, along with Eric Diesch and Peter Sengelmann of Pinnacle Real Estate Advisors, represented the seller. Ninos Lazar of Investar Real Estate Specialists represented the buyer in the deal.