Buyer Pays $28M for Two Retail Centers

William K. Perry, headquartered in Scottsdale, AZ, acquired two retail plazas located two miles apart in Phoenix, in two unrelated transactions. Perry’s Saddle Mountain Investments LLC paid $23.5 million to acquire the 32,963-square-foot Camelback Center at 16th Street and Camelback Road from Crow Holdings Capital Partners LLC. And, Perry entity Latigo Investments LLC paid $4.5 million to buy Shops at Camelback, a 5,000-square-foot retail project on Central Avenue, north of Medlock Drive, from Focus Phoenix Central LLC.

Camelback Center is 100% leased to a Chipotle, Jimmy Johns, Desert Schools Federal Credit Union and H&R Block. Meanwhile, Shops at Camelback is also fully leased to two restaurants, Blaze Pizza and MADgreens. Both eateries recently signed new 10-year leases.

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