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GLENDALE, ARIZ. — New York City-based Time Equities Inc. (TEI) has acquired Cactus Plaza, a 25,620-square-foot neighborhood shopping center in Glendale, roughly nine miles northwest of downtown Phoenix near the Arizona State University West Valley campus. Built in 1985, the center was 93 percent leased to a mix of restaurant, beauty and service-oriented tenants at the time of sale. Cactus Plaza marks the second retail property that TEI has acquired in the state. Ami Ziff, Jonathan Kim and Grant Scott internally represented TEI in the transaction. Chase Dorsett of Newmark represented the seller.