Newmark Knight Frank Brokers $9.6M Sale of Alma Elliot Square Shopping Center in Metro Phoenix
CHANDLER, ARIZ. — Newmark Knight Frank has negotiated the sale of Alma Elliot Square, a shopping center in Chandler. TriGate Capital sold the asset to Orange County, Calif.-based Investment Concepts for $9.6 million.
At the time of sale, the 62,164-square-foot asset was 62 percent leased to a mix of national and regional tenants, including Starbucks Coffee, O’Reilly Auto Parts, AT&T, Great Clips and Pizza Hut. Fry’s Food and Drug and IHOP also shadow-anchor the property.
CJ Osbrink, David Guido, Joe Doucett, Joseph Hoye and Ryan Moroney of Newmark Knight Frank represented the seller in the deal.