Scottsdale, Ariz. – LevRose Commercial Real Estate, a leading Arizona-based commercial real estate brokerage firm, has closed a $7.23 million deal on Bell Park Plaza.
The 33,480 square-foot shopping center located at the northeast corner of 43rd Avenue and Bell Road was purchased by Calgary-based Triumph Real Estate Investment Fund from Hanley V Properties, LLC.
Jon Rosenberg and Keri Davies of Levrose Commercial Real Estate/TCN Worldwide negotiated the deal on behalf of Triumph. According to Rosenberg of Levrose, “This is the third property we have negotiated and closed on behalf of Triumph in the past 21 months. Triumph and Levrose are actively partnering in the Phoenix Metro Area to expand upon this portfolio, with another multi-tenant retail center currently under contract in Glendale.”
Greg Abbott of CBRE represented the Seller on the transaction.
The location had a 93 percent occupancy rate upon closing, and Danielle Davis of LevRose Commercial Real Estate/TCN Worldwide will handle the leasing of the last vacancy at the center, with MODE Commercial Property Management managing the property.
Notable tenants currently include Subway, Hobby Bench, Banner Health Urgent Care and Papa John’s Pizza.
With an expertise in both office and retail tenant and landlord representation, sales transactions and property management, LevRose Commercial Real Estate has been serving the Valley since 1992. Locally owned LevRose is affiliated with TCN Worldwide, a consortium of independent commercial real estate firms providing complete real estate solutions locally, nationally and internationally.
For more information, please visit www.LevRose.com or call 480.947.0600.
About Levrose Commercial Real Estate/TCN Worldwide
Levrose Commercial Real Estate/TCN Worldwide is a market leader in commercial real estate services in the Greater Phoenix metro area. Since 1992, Levrose has been helping clients with every aspect of leasing, buying, selling and managing Commercial properties. With some of the top professionals in the industry, Levrose Commercial Real Estate/TCN Worldwide takes a higher level of accountability for each client. Commercial Property management is handled through affiliate firm MODE Real Estate Management Services. MODE has a unique, professional approach to the management of office, retail and medical properties.
For further information visit: www.levrose.com
About Triumph Real Estate Investment Trust
Triumph Real Estate Investment Trust was created in order to offer investors the opportunity to strategically invest in multi-tenant industrial, retail and office buildings alongside a strong and experienced management team with over 40 years combined experience.
The Trust will focus on identifying undervalued and undermanaged properties located in Ontario, Saskatchewan and Alberta in the Canadian Market, as well as Texas, Arizona, Colorado and California in the U.S.A. Market.
For further information visit: www.triumphref.com