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W. Phoenix Shopping Center Sells for $59M
The Palm Valley Pavilions West shopping center in Goodyear sold for $59 million. The Phoenix Business Journal reports that makes it one of the highest-priced retail transactions in the Valley in 2023. DRA Advisors was the seller. DRA and Pine Tree paid $44.75 for the property in 2018. A company associated with prominent mall owner Raymond Arjmond was the buyer.
The 232,797-square-foot shopping center is located at the corner of Litchfield and McDowell roads in Goodyear and is made up of five single-story buildings. On 29 acres, the center has anchor tenants, including Best Buy, Total Wine, Ross, Barnes & Noble and Ulta. The center was almost entirely occupied when it was sold.
- ◦Sale/Acquisition
