Kidder Mathews Brokers $10M Shopping Center Sale in Phoenix

The firm represented LNR Partners in the sale of Maricopa Marketplace. The property is shadow anchored by Fry's Marketplace and was 95 percent occupied upon closing.
Maricopa Marketplace

LNR Partners has sold Maricopa Marketplace, a shopping center in Maricopa, Ariz. The property was sold to CC Fund II Maricopa LLC for $10.1 million. Kidder Mathews represented the seller in the transaction. 

The property comprises five buildings located at 20917, 20987, 21083, 21101 and 21141 N. John Wayne Parkway. The multi-tenant shopping center is shadow anchored by Fry’s Marketplace and was 95 percent occupied at the time of sale. UPS, Leslie’s Pool Supply, Spring, Verizon and Pizza Hut are also among the property’s tenants. 

The Kidder Mathews team included Senior Vice Presidents & Partners Darren Tappen and Peter Beauchamp, as well as Vice President Matthew Ault.

“The sale of Maricopa Marketplace was a unique opportunity to acquire a fully stabilized asset comprised of desirable national and regional tenants within a revived submarket,” said Tappen, in a prepared statement.

Last month, Kidder Mathews was selected to market the LEED-certified Redmond Technology Center, a 101,728-square-foot office building in Redmond, Wash. The asset last traded in 2016 for $30 million. 

Image courtesy of Kidder Mathews