Newmark Brokers $16.4M Sale of Phoenix West Plaza Shopping Center in Phoenix

by Amy Works

PHOENIX — Newmark has arranged the sale of Phoenix West Plaza, a retail center located at 4344 W. Indian School Road in Phoenix. Aetna West sold the property to Gale Commerce Center for $16.4 million.

At the time of sale, the 163,233-square-foot property was 93 percent occupied by 25 tenants. The seller originally purchased the property in 2012 and invested approximately $5 million in renovations and repairs.

Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller in transaction.

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