Contact Us

Kimco Bags Christown Spectrum for $115M


Kimco Realty Corp acquired the Christown Spectrum regional mall at 1703 W Bethany Home Rd in Phoenix from Coventry Real Estate Advisors for more than $115M.

The 850k SF retail property is about 94% occupied, and anchored by a Wal-Mart Supercenter, Costco and Super Target, which CoStar reports is the only mall in the country to feature all three.

The property dates from 1961. In connection with the sale, the buyer assumed a CMBS loan with a balance of about $64M. [CoStar]