Strong Demand for Well-Located, Value-Add Retail Centers
CORONA DEL MAR, CALIF. – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Executive Vice President Eric Wohl negotiated the sale of 51st & Southern, a 15,498-square-foot multi-tenant retail property in the Phoenix metro area. The purchase price was $2,325,000.
Wohl represented the seller, a private investment company based in Scottsdale, AZ. Jenette Bennett of Kidder Mathews in Phoenix, AZ represented the buyer, a private investor from British Columbia, Canada.
The 2.26-acre retail strip center, which is located at 5035 W. Southern Avenue and 6115 S. 51st Avenue in Laveen, includes tenants Carniceria Mi Ranchito Market, MetroPCS, Kabob Express and Smoothie Run. The center is also shadow anchored by Burger King. The retail center was built in 2008, and was 92% occupied at the time of the sale.