Cushman & Wakefield Negotiates Sale in Downtown Historic Courthouse Square
PHOENIX, July 19, 2018 – Cushman & Wakefield completed the sale of Bashford Courts Atrium Mall, located at 130 W. Gurley Street in Prescott, Ariz. Hannay Realty Advisors purchased the property from Bashford Courts, LLC for $4.95 million.
Chris Hollenbeck of Cushman & Wakefield Phoenix represented the seller in the transaction. Greg Mayer of Cushman & Wakefield Phoenix represented the buyer.
“We are excited to sell an iconic Prescott building like Bashford Courts to a very seasoned investor like Hannay Realty Advisors,” says Hollenbeck.
Bashford Courts Atrium Mall, a restaurant and specialty boutique shopping center located in Downtown Historic Courthouse Square of Prescott, is a 33,000-square-foot retail center. The property is located across from the historic Courthouse Square, which hosts numerous year-round events, and houses the famous Prescott Brewing Company. The center is 97% leased, with long-term agreement and most tenants have been with Bashford Courts for more than 10 years.
“Adding a property like Bashford Courts to our growing portfolio gives us an opportunity to add value to a well-known building in Prescott. We plan on starting updates to the building immediately and are already starting to talk to new potential tenants for some of the vacancies,” said Michael Meath of Hannay Realty Advisors.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.