Newmark Negotiates Sales of Two Grocery-Anchored Retail Centers in Phoenix Totaling $14M
PHOENIX — Newmark has arranged the sales of two grocery-anchored shopping centers located in Phoenix for a combined total of $14 million. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark facilitated the transactions.
In the first deal, Boros Investments sold Safeway Shops at 83rd & Camelback, a multi-tenant retail center located at 4819 N. 83rd Ave. and 8141 W. Camelback Road, to an entity doing business as Reel Retail Fund I LLC. Tenants at the fully occupied property include H&R Block, Great Clips, One Main Financial, a donut shop, dentistry office and a Mexican restaurant. Newmark represented the buyer and seller in the deal.
In the second transaction, Desert Canyon Investment Properties III acquired Happy Valley Walmart Shops, located at 25155 N 67th Ave. and 6520 W. Happy Valley Road, from BevNorm Olive LLC. Tenants at the property include Pacific Dental, Edward Jones, a bagel shop, bike store and a sushi restaurant. The property includes the shops on other side of a Walmart Neighborhood Market store.