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Phoenix & Southwest  + Phoenix  + Office  | 
Phoenix-Area shopping center sells for $40 million

Phoenix-Area Shopping Center Goes to Tradewinds Capital

Tradewinds Capital LP has acquired Laveen Park Place, a 109,219-square-foot retail shopping center in Laveen, Ariz., for $40.3 million. Kitchell Corp. sold the asset with the assistance of Ryan Shubert and Michael Hackett from Cushman & Wakefield.

Laveen Park Place came online in two phases, in 2019 and 2022, on a 17.5-acre lot. Anchored by Sprouts Farmers Market, TJ Maxx and Michaels, the shopping center was fully leased at the time of sale.

Located at 7700 S. 59th Ave., the property is on the southeast corner of Loop 202 Freeway and Baseline Road, a high-traffic intersection where more than 60,000 vehicles pass the facility daily. Five multifamily developments, as well as 14 residential communities planned or under construction, are within a 3-mile radius.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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