Maricopa Marketplace Sells for $10.05 Million

Phoenix, Ariz. – Maricopa Marketplace, a 38,877 square foot shopping center in Maricopa, Arizona, has sold for $10,053,750 to CC Fund II Maricopa, LLC., directed by Jeff Levine. The seller, LNR Partners, LLC, as Special Servicer was represented in the transaction by Kidder Mathews commercial real estate brokers, Darren Tappen, Peter Beauchamp, and Matthew Ault.

Maricopa Marketplace consists of five buildings located at 20917, 20987, 21083, 21101, 21141 N John Wayne Parkway in Maricopa, Arizona. It is a Class A, multi-tenant shopping center, shadow anchored by a top performing Fry’s Marketplace. It was 96 percent occupied at the time of sale with notable tenants including UPS, Verizon, Leslie’s Pool Supply, Pizza Hut, and Sprint.

“The sale of Maricopa Marketplace was a unique opportunity to acquire a fully stabilized asset comprised of desirable national and regional tenants within a revived submarket,” said Tappen.

About Kidder Mathews

Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 700 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $7 billion in transactions, manages over 51 million square feet of space, and conducts over 1,500 appraisals annually. For more information, visit kiddermathews.com.

 

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