Investors are clearly eager for Phoenix-area retail. Not long after L.A.-based Karlin Real Estate acquired the Pima Crossing shopping center in Scottsdale, New York-based Goldman Sachs & Co snapped up the 305k SF Bethany Towne Center in Phoenix for $41.3M.
A Walmart Supercenter anchors the shopping center and takes up over two-thirds of the space; the property is 92.3% leased. Other tenants include Denny’s, Wendy’s, Sonic, YouFit Health Clubs, Payless and Starbucks.
On more than 33 acres, Bethany Towne Center is less than a mile north of Grand Canyon University. Cushman & Wakefield repped the seller, Irving, Texas-based PDG America Shopping Centers LLC.
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