Phoenix, October 29, 2018– Phoenix Commercial Advisors closed on Shops at Fountainhead, seven-tenant shops near Arizona State University in Tempe, Ariz. The property, located on 1.92 acres on the southeast corner of 55th Street and Broadway Road at 1537 W. Broadway Road, sold for $5,511,000. The final price was 99.5 percent of the asking price and $518 per square foot.
The 10,640-square-foot shops were 100 percent leased with a mix of local and national tenants, including Starbucks, Supercuts, Jersey Mike’s Subs, Flame Broiler, The Buffalo Spot and Shako Mako Grill. Danny Gardiner and Chad Tiedeman at Phoenix Commercial Advisors represented the seller, Shops at Fountainhead, LLC, in the transaction. The buyer, SFB Broadway Shopping Center, LLC, represented themselves in the transaction.
“The location, substantial surrounding employment and the tenant mix at this property make this a strong investment opportunity and asset to the surrounding Tempe and ASU community.” – Danny Gardiner
Formed in 1994, Phoenix Commercial Advisors is a commercial real estate services company. The company specializes in retail commercial brokerage in Phoenix, Tucson, and surrounding Arizona communities, providing leasing services, tenant and landlord representation, investment sales and redevelopment services to local and national retailers and property investors. Offering the expertise of 250 combined years of experience, Phoenix Commercial Advisors is also member of ChainLinks Retail Advisors, the premier national retail platform connecting elite brokerage companies across the top 50 North American markets.
About Phoenix Commercial Advisors
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