Cushman & Wakefield brokers sale of Phoenix property

Cushman and Wakefield announced the firm brokered the $4.4 million sale of a mixed-use Phoenix property near 12th Street and Highland Avenue.

The property, called the Strip, is a two-story, retail and creative office space acquired by 4700 Alliance LLC — a Seattle-based investment company.
Eric Wichterman, Mike Coover, Steve Lindley, and Alexandra Loye of Cushman and Wakefield in Phoenix represented the seller, Tortosa LLC.

“The Strip is truly a one-of-a-kind, art-forward, adaptive re-use development that has proven to be a magnet for retail and creative office tenants,” Wichterman said. “The full-scale renovation completed in 2018 relied heavily upon a focused on-art and informed-architectural detailing. The resulting adaptation and re-use of the original structure rapidly attracted tenants to the project since its completions and continues to garner intense leasing interest.”

The ground floor space consists of boutique retail tenants, a craft beer and wine bar/restaurant, a craft coffee shop, a wine shop and café and a locally famous cake bakery.

The second floor includes a salon, two architectural firms, a fitness tech company and a headquarters for a restaurant group.