305K-SF Retail Sells to Goldman Sachs

A subsidiary of Goldman Sachs & Co. paid $41.3 million to acquire Bethany Towne Center, a Phoenix, AZ retail property at Bethany Home Road and 35th Avenue. PDG America Shopping Centers LLC sold the 305,742-square-foot center. Cushman & Wakefield’s Michael Hackett and Ryan Schubert represented the Irving, TX-based seller.

Bethany Towne Center, situated on 33.3 acres, is 92.3% occupied. A Walmart Supercenter is the shopping center’s anchor, making up 67.5% of the gross leasable area. The remaining tenants include Denny’s, Wendy’s Sonic, YouFit Health Clubs, Payless Shoes and Starbucks.

“The property is located in a dense, in-fill location in Metro Phoenix. This, along with a strong mix of tenants and its close proximity to the growing GCU campus, enhanced its overall value to potential buyers,” Hackett stated.

For comments, questions or concerns, please contact Amy Sorter