Real estate

Phoenix shopping center sells for $9.85M

Posted 4/14/21

A real estate firm announced the $9.85 million sale of a prominant Phoenix shopping center Wednesday on 32nd Street and Shea Boulevard.

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Real estate

Phoenix shopping center sells for $9.85M

Posted

A real estate firm announced the $9.85 million sale of a prominant Phoenix shopping center Wednesday at 32nd Street and Shea Boulevard.

The 88,985-square-foot shopping center, called Shea Plaza, is anchored by Bashas' and features businesses such as Subway and a Hallmark store.

The seller, Miami-based Starwood Property Trust, was represented in the transaction by Michael Hackett and Ryan Schubert with Cushman & Wakefield in Phoenix. Imagine Shea LLC, a Phoenix company, was the buyer in the deal.

“Shea Plaza is an infill grocery-anchored asset positioned in an improving Phoenix submarket,” said Mr. Hackett in a statement.

Shea Plaza sits on 7.75 acres and is currently 78.8% occupied by businesses.

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