Cushman & Wakefield sells Arrowhead Festival
PHOENIX, April 24, 2019 – Cushman & Wakefield completed the sale of Arrowhead Festival, located at the northeast corner of 73rd Avenue and Bell Road in Glendale, Ariz., on behalf of PWREO 73rd & Bell, LLC (an entity formed by Pacific West Land of Bainbridge Island, Wash.). Phoenix-based LIMO Enterprises, LLC purchased the property for $3.07 million.
Chris Hollenbeck and Shane Carter of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.
The 12,615-square-foot, multi-tenant building is 100% leased to long-term reliable tenants including Jackson Hewitt, America’s Best, Doda’s Pizza and Blooming Nails. Built in 1997, the property is adjacent to the 1.37 million square foot Arrowhead Towne Center anchored by Dillard’s JC Penny’s, Sear’s, Macy’s, AMC Theaters and Forever 21.
“Arrowhead Festival is located in an irreplaceable location on Bell Road right in the Arrowhead Mall trade area. This asset will be a great long term hold for the buyer,” stated Hollenbeck.
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.