Lee & Associates sells North Phoenix shopping center for $11M
Lee & Associates Arizona announced that the Fincham Dempsey Team arranged the sale of the 54,430-square-foot Pueblo Point Shopping Center for $11,000,000.
Lee & Associate Principals Jan Fincham and Patrick Dempsey, along with associate Andrew Lundahl, facilitated the transaction on behalf of the seller, Arneil Pueblo, LLC., and the buyer, Paradise Valley Ventures, LLC.
Located at 13801 N. Tatum Boulevard, the 5.46-acre shopping center includes Smart & Final Extra Grocery store, Domino’s Pizza, The UPS store and an Ace Hardware store, which is not a part of the sale.
“Pueblo Point shopping center is attractive to investors because of its strategic location in North Phoenix, just north of the Paradise Valley Mall. The property sits in an infill location with significant barriers to entry for any new future retail development, ensuring the stability and long-term success of Pueblo Point Shopping Center,” said Fincham.
“Additionally, the property enjoys attractive demographics with over 220,000 residents within a 5 mile radius with significant annual house hold income of more than $92,000,” said Dempsey.