CBRE Closes Escrow of Black Canyon Plaza in Seven Days

CBRE has completed the sale of Black Canyon Plaza, a 22,740-square-foot strip retail center located at 2647 W. Glendale Ave. in Phoenix. The property closed escrow in seven business days for $3.025 million.

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Steve Julius and Jesse Goldsmith represented the seller, Phoenix-based F&R Black Canyon Plaza, LLC. The property was purchased by Oxnard, California-based E. Espino Investments, LLC in a 1031 exchange.

 

“This sale is an impressive display of teamwork and preparation by all parties to close so quickly and meet the buyer’s tight deadline,” said CBRE’s Julius.

 

Black Canyon Plaza is 100 percent leased to a mix of a traditional retail, restaurant and service tenants. Built in 1987 on 2.96 acres, the retail center has frontage and access from both 27th and Glendale Avenues and boasts easy access to the I-17.

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