Successful shopping center was 100 percent leased at time of sale
Phoenix, October 22, 2018 – Colliers International negotiated the sale of the Anthem Eastside Shops at 3668-3720 W. Anthem Way in Phoenix to a Montana-based investor.
“The outstanding master-planning of Anthem creates an incredibly healthy ratio of retail to population, with very low market vacancy,” said Mindy Korth, executive vice president with Colliers International in Greater Phoenix. “This foresight created a platform for existing retail in the area to experience outstanding success and for Anthem retail real estate to be a reliable investment for years to come.”
Southgate Mall Associates of Missoula, Montana, purchased the property from Irvine Asset Group, LLC, from Newport Beach, California. Mindy Korth, Kirk Kuller and John Jackson of Colliers in Greater Phoenix negotiated the 1031 exchange sale, which was handled as an off-market transaction.
Anthem Eastside Shops is a multi-tenant, lifestyle retail center. Built in 2004, the property contains approximately 31,193 square feet of space. The largest tenant in the property is Dollar Tree. The center was 100 percent leased at the time of the sale.
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Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $20 billion of assets under management from the world’s most respected institutional real estate investors.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.
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Colliers International in Greater Phoenix has served clients locally and globally for more than 35 years.