:no_upscale():quality(75))
Photo credit: Courtesy of ORION Investment Real Estate
Manistee Ranch Park Shops, a retail center in Glendale, AZ, has sold for $1.1M. That breaks down to $138.50/SF for the 7,942 SF center. On the corner of 51st and Northern avenues, Manistee Ranch Park is close to the Glendale AZ Historical Society and about 48,000 cars pass through the intersection daily. At the close of escrow, the center was 92% occupied.
"Manistee Ranch Park Shops is a very stable asset in a strong neighborhood,” Orion SVP Judi Butterworth says. “Walgreens functions as the anchor tenant, and the center also has access to Manistee Ranch Park." Judi repped the buyers, 64 Plaza LLC, Arlyn and Bandaly Baddour. There has been increased interest in retail in areas with strong local economies.
