DRA Advisors, Pine Tree Acquire 232,577 SF Shopping Center Near Phoenix for $44.7M
GOODYEAR, ARIZ. — A joint venture between DRA Advisors and Pine Tree has purchased Palm Valley Pavilions West, a shopping center located at 1478 N. Litchfield Road in Goodyear, a suburb 20 miles west of Phoenix. Retail Value Inc. sold the property for $44.7 million.
Built in 1994 and situated on 28 acres, the 232,577-square-foot property was 98.5 percent leased at the time of sale. Tenants include Ross Dress for Less, Best Buy, Total Wine & More and ULTA Beauty.
Pete Bethea, CJ Osbrink, Rob Ippolito and Glenn Rudy of Newmark Knight Frank represented the seller, while the buyer was self-represented in the deal.