Cushman & Wakefield Arranges the Sale of The Groves for $18.5 Million

PHOENIX, January 7, 2020 – Cushman & Wakefield completed the sale of The Groves, a Walmart shadow anchored shopping center located in Tempe, Ariz. Jabbel Holdings, LLC purchased the property for $18.5 million.

Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.

The Groves is a 169,606-square-foot shopping center located at the northeast corner of Priest Drive and Elliot Road. The property is currently 91% leased to a diverse tenant roster including Walmart (NAP), Ross, PetSmart, Staples, Bob’s Discount Furniture, Beall’s Outlet and Dollar Tree to name a few.

“The Groves is a Walmart anchored institutional quality asset in the supply constrained market of Tempe,” said Executive Managing Director Michael Hackett.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
2020-01-07T15:48:00-07:00January 7th, 2020|