Neighboring the Historic Manistee Ranch Park, and Walgreens adjacent, Manistee Ranch Park Shops trades for $1,100,000 ($138.50/SF). The center was 92% occupied at close of escrow.
Manistee Ranch Park Shops is situated just south of the southwest corner of 51st Avenue and Northern Avenue near Manistee Ranch Park and Glendale Arizona Historical Society. The property has excellent visibility from 51st Avenue and prominent monument signage. There is a high combined traffic count at the intersection of approximately 48,000 vehicles per day.
Judi Butterworth, Senior Vice President at ORION, represented the Buyer in the transaction. Butterworth says, “Manistee Ranch Park Shops is a very stable asset in a strong neighborhood. Walgreens functions as the anchor tenant, and the center also has access with the park.” The Seller was Northern MS, LLC and the Buyer was 64 Plaza, LLC, Arlyn and Bandaly Baddour, based out of Arizona.