Phoenix Commercial Advisors facilitated the off-market sale of Arrowhead Shops, a multi-tenant retail pad. The property, located on the northwest corner of 77th Avenue and Bell Road in Glendale, Ariz., sold for $10,200,000, or $769.99 per square foot.

The 13,247-square-foot center, built in 2006, was 100 percent leased at the time of sale to an internet-resistant mix of national retail and service tenants. Strategically positioned along the Bell Road retail corridor adjacent to Arrowhead Towne Center, the property benefits from heavy daily traffic counts and the established consumer draw of one of the West Valley’s most active trade areas. Isaiah Clayton, John Schweikert and Chad Tiedeman at Phoenix Commercial Advisors represented the seller, in the transaction.

“Institutional capital continues to aggressively target well-located Phoenix convenience retail, and Arrowhead Shops checked every box for the buyer who is confident in their long-term investment thesis. The strong demographics, daily-needs tenancy and a street-front Bell Road location next to Arrowhead Towne Center fit perfectly with their acquisition goals. This transaction reflects the depth of national demand we’re seeing for premier Phoenix retail assets.” – Chad Tiedeman