The property is a freestanding, 15,549-square-foot pad building. The purchase price was $2.105 million ($135.38 per square foot). The retail building is at the main entry of Macerich’s Arrowhead Towne Center at the intersection of Bell Road and 77th Avenue.
The property was marketed nationwide through a competitive bid process and garnered multiple qualified, prospective buyers through a time specific call for offers. The property is currently 100 percent occupied by Terri’s Consignment.
NAI Horizon’s Sharon Reeves, Barbara Lloyd and Lane Neville represented the seller and Darren Pitts with Velocity Retail Group represented the buyer.
For questions, contact NAI Horizon agents at 602-955-4000.