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Peoria Retail Center Trades for $91M
Arrowhead Crossing, a 422,000-square-foot retail center in Peoria at Bell Road and 77th Avenue, sold for $91 million. Pine Tree acquired the center along with a state pension fund. Deanna Lelli, with Site Centers, was the seller’s agent.
The 2003-built center has tenants such as Burlington, Five Below, TJ Maxx, Nordstrom Rack, HomeGoods and Golf Galaxy. As of June 10th, only 5,000 square feet were available.
Arrowhead Crossing is situated near Arrowhead Towne Center, a large enclosed regional mall that serves as the retail focus for the trade area. It is adjacent to the Peoria Sports Complex, the spring training home of the Seattle Mariners and San Diego Padres, which provides an annual seasonal tourist draw to the area. The shopping center offers visibility and access from the major intersection of Bell Road and North 77th Avenue.
- ◦Sale/Acquisition
