PHOENIX — Tortosa LLC has completed the disposition of The Strip, a two-story retail and office building in Phoenix, to 4700 Alliance LLC, a Seattle-based investment company, for $4.4 million.
Located at 4700 N. 12th St., the multi-tenant property was fully leased at the time of sale. The ground-floor space consists of retail tenants, including a craft beer and wine bar/restaurant, a craft coffee shop, a wine shop and café, a locally famous cake bakery and a soon-to-be completed speakeasy bar and co-working lounge. The second floor includes a salon, two architectural firms, a fitness tech company and headquarters for a restaurant group.
Eric Wichterman, Mike Coover, Steve Lindley and Alexandra Loye of Cushman & Wakefield’s private capital and capital markets teams in Phoenix represented the seller in the transaction.