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Foothills Park Plaza has sold to Branch Investment Group of Newport Beach, CA, for $3.1M. The 20k SF retail center is part of the Ahwatukee Foothills master planned community, which has been named the Home Builders Association of Central Arizona’s Best Master Planned Community four times.
“At 78% occupancy, the seller left some room in the deal for the buyer to further improve the occupancy, income and value to the property,” says Sean Stutzman of Orion Investment Real Estate, who repped the buyer. “With an aggressive leasing platform, the new owner plans to add more great services to the Ahwatukee Foothills community.”
Foothills Park Plaza is on the corner of Chandler Boulevard and Desert Foothills Parkway. Tenants at the intersection include Safeway, Walgreens, Bank of America and Ace Hardware.
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