SRS Real Estate Partners Brokers $65.8M Sale of Arcadia Crossing Retail Center in Phoenix
PHOENIX — SRS Real Estate Partners has arranged the sale of Arcadia Crossing, a grocery-anchored power center located at 44th Street and Thomas Road in Phoenix. A Phoenix-based family office sold the asset to a Denver-based family office for $65.8 million.
Chris Tramontano, John Redfield, Mike Polachek and Brian Polachek of SRS represented the seller, while Pinnacle Real Estate Partners represented the buyer in the transaction.
Situated on 44 acres, Arcadia Crossing features 453,457 square feet of retail space. At the time of sale, the property was 95 percent occupied. Tenants include Fry’s Food & Drug, Target, Burlington, Conn’s HomePlus, Costco, Ross Dress for Less, Petco and Five Below.