CBRE has completed the sale of Coldwater Plaza located at 1461 North Dysart Rd. in Avondale, Ariz. The ±10,017-square-foot shopping center commanded a sale price of $2.085 million.
Joseph Compagno, Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office represented the seller, a partnership between Denver, Colo.-based North Dysart SG, LLC and Scottsdale-based Coldwater Dysart Partners, LLC, in the transaction. The buyer was Sparty Holdings of Great Falls, Va. and was represented by Ken Gatt with Evergreen.
“The seller was very impressed with the amount of buyer activity we had during the marketing process,” said CBRE’s Compagno. “We executed and sold the property at 98 percent of list price.”
Coldwater Plaza is a high-quality, freestanding, shopping center located on Dysart Road less than a quarter mile south of the I-10 Freeway in Avondale. 100 percent leased at time of sale, tenants include Pacific Seafood Buffet, Cricket Wireless, Hire Source Staffing, and Checkmate Loans. The building, constructed in 2003, has excellent visibility from Dysart Road and is located at the main entrance of a Sam’s Club-anchored shopping center. The property also benefits from a strong retail corridor with neighboring tenants such as Home Depot, Walgreens, McDonald’s, Ashley Furniture, QuickTrip as well as numerous restaurant options.