SRS Real Estate Partners is pleased to announce the purchase of The Shops at Arizona on behalf of their client Abington Emerson Investments, LLC. The shopping center is located at the northeast corner of Anthem Way and Gavilan Peak, in a growing area of Anthem, AZ and sold for $2.625 million.
The Shops at Arizona, built in 2003, is a well-constructed center with the opportunity to add immediate value to the existing 60.4% occupancy. The 35,710 square foot shopping center already has a complementary tenant mix including Ace Hardware, Coldwell Banker, Pizza Hut, Wendy’s, Shanghai Club, and Princess Nails.
Brent Howard of Abington Emerson noted the company’s excitement about growing its portfolio in Arizona and this acquisition. Abington Emerson already owns shopping centers in Mesa and Phoenix, and an industrial property in Gilbert, Arizona.
Sean Thomas with SRS represented Abington Emerson in the transaction.