Towne Center

Towne Center

2827 West Peoria Avenue, Phoenix, AZ, USA

Cushman & Wakefield, as exclusive advisor is pleased to present the opportunity to acquire Towne Center (“the Property”), Towne Center is a 93.7% leased Ross Dress For Less, PetSmart and dd’s Discounts anchored retail center located in Northwest Phoenix, Arizona. The Property’s location at the southeast corner of Peoria Avenue and 31st Avenue, adjacent Interstate 17 Black Canyon Freeway, is one of the densest, most heavily trafficked thoroughfares in the Phoenix metropolitan area. The Property offers strong credit tenancy with first tier national retailers Ross Dress for Less, PetSmart, dd’s Discounts, Big 5 Sporting Goods, Wendy’s, Aspen Dental, Supercuts, Gamestop and Chipotle Mexican Grill. Over 93% of the GLA at Towne Center is made up of national tenants.

Towne Center draws customers from a significant trade area including ASU West, Glendale Community College, John C Lincoln Hospital and DeVry University. There are currently over 443,000 people living within five miles of the property. The lack of desirable retail square footage per capita in this trade area will help ensure that Towne Center remains a stable investment and desirable location for national tenants for decades to come.

Towne Center is a ±140,644 square foot retail center that was redeveloped in 2003. The subject site lies on ±14.16 acres of land with a zoning classification of C-2. The collateral consists of four anchor tenant buildings, two strip-retail buildings and two freestanding pad buildings.

Access is provided by eight ingress/egress points along Metro Parkway, Cochise Drive, 31st Avenue and Peoria Avenue, which allow traffic flow from all directions.

Property Summary

Site Area14.16 acres
Year Built2003
GLA (SF)140,644
AnchorRoss, dd's Discounts, PetSmart
Occupancy93.7%

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