Arizona real estate investor buys Heatherwood Plaza in Glendale

A Glendale shopping center that was 79 percent leased at the time of the transaction has been purchased by a real estate investor from Arizona. 

“This property is ideally located in a neighborhood with strong demographics and close to the patients and staff of Banner Thunderbird Medical Center,” said Mindy Korth, executive vice president of Colliers and a collaborator in this major real estate deal in Glendale, Arizona. “Twenty percent of the shopping center’s tenants have been here for more than 20 years, which speaks to the strength and location of the asset.” 

BRLS Properties AZ-Glendale LLC sold the property to a private investor represented by Trevor Von Behren and Alex DeSoto of Matthews Real Estate Investment Services in Scottsdale, AZ. 

Heatherwood Plaza is a commercial area built in 1988 and located at the southeast corner of 59th Avenue and Thunderbird Road. The commercial buildings are designed for small shops and there are 11 spaces ranging from 1,200 to 4,236 square feet each. The commercial area features approximately 22,115 square feet of leasable space on a 3.13-acre site. The ample parking, upscale surrounding demographics and easy access made this investment very attractive to investors. 

This large shopping mall, which is 79 percent leased, houses nine tenants, including four restaurants and several personal and professional service retailers. 

Heatherwood Plaza is also shadow anchored by Fry’s Food and Drug, Arizona’s leading grocery chain. The nearby Banner Thunderbird Medical Center attracts approximately 5,500 daily visits to the area. 

Available Foreclosures: 

Glendale: 25 homes available.

Phoenix: 40 homes available. 

Scottsdale: 15 homes available.

By Elías DaSilva | 06 de Noviembre de 2024.