CBRE Negotiates Sale of 533,116 SF Entertainment District in Metro Phoenix for $133M
GLENDALE, ARIZ. — CBRE has arranged the sale of Westgate Entertainment District, a mixed-use development located near Loop 101 and Glendale Avenue in Glendale.
YAM Westgate, a venture formed by Scottsdale-based YAM Properties, purchased the 46.6-acre entertainment, retail and office destination, including 30 acres of undeveloped land, from The New Westgate LLC, formed by iStar Properties. The price was $133 million.
Philip Voorhees, Jimmy Slusher, Kirk Brummer, Sean Heitzler, Jesse Goldsmith, Steve Julius and Bryan Taute of CBRE represented the seller and buyer in the deal.
Opened in 2016, the Westgate Entertainment District features more than 40 retailers and restaurants, including a 20-screen AMC Theatre, Dave & Busters and Yard House. Additionally, the property offers 159,026 square feet of Class A office space, as well as 76 multifamily lofts located on the upper floors.