January 24, 2017
A subsidiary of Goldman Sachs & Co. paid $41.3 million to acquire Bethany Towne Center, a Phoenix, AZ retail property at Bethany Home Road and 35th Avenue. PDG America Shopping Centers LLC sold the 305,742-square-foot center. Cushman & Wakefield’s Michael Hackett and Ryan Schubert represented the Irving, TX-based seller.
Bethany Towne Center, situated on 33.3 acres, is 92.3% occupied. A Walmart Supercenter is the shopping center’s anchor, making up 67.5% of the gross leasable area. The remaining tenants include Denny’s, Wendy’s Sonic, YouFit Health Clubs, Payless Shoes and Starbucks.
“The property is located in a dense, in-fill location in Metro Phoenix. This, along with a strong mix of tenants and its close proximity to the growing GCU campus, enhanced its overall value to potential buyers,” Hackett stated.
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