September 10, 2019
Westwood Financial LLC now owns the Ahwatukee Mercado shopping center in Phoenix’s Ahwatukee Foothills Village district. The Los Angeles buyer shook hands with the seller, TriGate Capital of Dallas, and paid $9 million for the 54,000-square- foot retail asset.
CBRE’s Jesse Goldsmith, Steve Julius, Chase Dorsett, Philip Voorhees, John Eddy and Jimmy Slusher negotiated the transaction between buyer and seller. Situated at 4623 & 4747 E. Elliot Rd., the property is shadow-anchored by Safeway, and is 64% leased to tenants including H&R Block, Cactus Jack’s Bar & Grill, Great Clips and Subway.
“Ahwatukee Mercado comprises a diverse and dynamic mix of internet-resistant retailers that generate consistent daily-trip traffic to the center,” Goldsmith said. “This, coupled with strong area demographics and the tremendous value that can be created through the lease-up of the vacant space, drove significant interest to the property, as our team received multiple offers in a short time frame.”
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