Phoenix, Ariz. – Phoenix Commercial Advisors closed on Shops at Gateway Village, a four-tenant shop building in Avondale, Ariz. The property, located on 1.71 acres on the southeast corner of 103rd Avenue and McDowell Road at 10273 and 10277 W. McDowell Road, sold for $5,200,000. The final price was 97 percent of the asking price and $278 per square foot.
The 18,699-square-foot building was 100 percent leased with a mix of local and national tenants, including Tuesday Morning, The Halal Guys, Red Mountain Weight Loss and Pinky Nails & Spa. Chad Tiedeman at Phoenix Commercial Advisors represented the developer and seller, VP Gateway Village, LLC, in the transaction. Steven Underwood, also with Phoenix Commercial Advisors, represented the buyer, TSM Ventures, Inc.
“Vintage Partners developed a great property that has been a successful venture for everyone involved. This is the final sale of the eight acres. I congratulate Vintage Partners for that, and I think the property will continue to thrive for the community.” – Chad Tiedeman
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.