Del Mar Ventures Buys Campbell Crossing Retail Center in Phoenix with Plans to Renovate
PHOENIX — Del Mar Ventures Group has acquired Campbell Crossing, an infill retail center located at 4514 N. 16th St. in Phoenix. MCK Realty sold the property for $2.5 million, or $105.37 per square foot.
The 1980s-vintage asset features 23,725 square feet across with 15 suites, with five tenants currently in place. Del Mar Ventures plans to remodel the property and change the tenant mix. The firm plans to reposition Campbell Crossing as a high-end retail destination by updating and modernizing building exteriors and interiors and installing high-quality tenants.
Jerry Jacobs and David Guido of Newmark Knight Frank represented the buyer in the transaction.