INTERSTATE HOLDINGS BUYS WATSON MARKETPLACE IN BUCKEYE FOR $22M
BUCKEYE, ARIZ. — Interstate Holdings has acquired Watson Marketplace, a 90,000-square-foot retail center in Buckeye, for $22 million. The center is located at 441 – 733 S. Watson Road, about 30 minutes west of Phoenix.
The transaction included 55,153 square feet of property on nearly eight acres that is leased to 15 tenants, including Goodwill, Denny’s, the UPS Store, Dunkin Donuts and Firehouse Subs. It also included two retail pads that are ground leased to McDonald’s and Bank of America.
Chris Tramontano and Tom Chichester of Faris Lee Investments represented the all-cash buyer, which was also in a 1031 Exchange. The seller and property developer, Desert Troon Companies, was represented by Chris Tramontano, Matthew Mousavi and Patrick Luther of the same firm.