Phoenix, Ariz. – Phoenix Commercial Advisors closed on Township Plaza, shops shadow anchored by Fry’s Marketplace, May 17. The property, located on a combined 8.25 acres on the southwest corner of Gilbert and Baseline roads at 1817 and 1939 E. Baseline Road, Gilbert, Ariz., sold for $8,700,000 or $170 per square foot.
The shops, totaling 51,253 square feet, were 81 percent leased with a mix of local and national tenants, including Ace Hardware, Baskin Robbins, Subway, Jackson Hewitt, iLoveKickboxing, Cafe Rio and Barro’s Pizza. John Schweikert and Chad Tiedeman at Phoenix Commercial Advisors represented the seller, 1817 East Baseline Road Holdings, LLC, in the transaction. The transaction is one of 12 retail investment property sales for the Phoenix Commercial Advisors’ Investment Team in 2018.
“Township Plaza being anchored by the market dominant grocer and with a value-add component garnered very strong interest in the market and had numerous buyers interested in acquiring this property.” – John Schweikert
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 market.