A private investor from Arizona, represented by Trevor Von Behren and Alex DeSoto of Matthews Real Estate Investment Services in Scottsdale, recently bought Heatherwood Plaza, a neighborhood shopping …
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BUSINESS
Private investor buys Glendale shopping center
Colliers facilitates sale
(Submitted)
A private investor living in Arizona recently bought Heatherwood Plaza, at 13631 N. 59th Ave. in Glendale.
Posted
A private investor from Arizona, represented by Trevor Von Behren and Alex DeSoto of Matthews Real Estate Investment Services in Scottsdale, recently bought Heatherwood Plaza, a neighborhood shopping center at 13631 N. 59th Ave. in Glendale.
This center is shadow anchored by Fry's Food and Drug. The retail plaza was 79 percent leased at the time of sale.
"Twenty percent of the plaza's tenants have occupied space here for longer than 20 years, which is a testament to the strength of the asset and its location," stated Mindy Korth, executive vice president with Colliers, in a press release.
Korth, JK Jackson and Kristina Remon of Colliers in Phoenix worked alongside El Warner and Caitlin Zirpolo of Colliers in Irvine, Calif., to handle the transaction. BRLS Properties AZ-Glendale LLC sold the property.
Heatherwood Plaza is at the southeast corner of 59th Avenue and Thunderbird Road, contains more than 22,115 square feet of leasable space on a 3.13-acre site. Built in 1988, the neighborhood shopping buildings are configured for small shop tenants with 11 spaces currently in place that span from 1,200 to 4,236 square feet each.
The plaza is occupied by nine tenants that include four restaurants, along with personal and professional service retailers. In addition to this draw, the nearby Banner Thunderbird Medical Center generates an estimated 5,500 daily visits to the area.
