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Avison Young brokers $3 million sale of multi-tenant retail property in Peoria, AZ
June 23, 2022
Peoria, AZ – Avison Young announced today the $3 million sale of Fletcher Heights Plaza, a 15,431 square-foot (sf) multi-tenant retail property, located at 8267-8279 W Lake Pleasant Parkway in Peoria, AZ. The property is a part of a larger project that includes two additional strip centers.
Avison Young Senior Associate Linda Robbins, who is based in the company’s Phoenix and Las Vegas offices, represented the seller, a California-based private investor. The buyer was an Arizona-based private investor.
Built in 2004, the property consists of two buildings. The first is a 2,243-sf building occupied by Cousin Vinny’s Pizza and Pasta restaurant who has been at the property for more than a decade. The second is a 13,188-sf multi-tenant strip center with tenants that include Dead Red Crossfit, Black Cadillac Salon, Arizona Medical Massage, Kung Fu and Richter Aleworks.
Robbins noted that the Fletcher Heights area has blossomed into a vibrant destination during the past few years. “In addition to handling this sale transaction, I was responsible for the previous leasing assignment of this asset which brought the center to 100% occupancy. The property now has an ideal tenant mix catering to the local community.”
The asset is situated directly north of Beardsley Road in the heart of Fletcher Heights master-planned community, which is surrounded by residential neighborhoods and located a mile from Loop 101 Freeway with easy access to Metro Phoenix.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.