RA CENTERS ACQUIRES PALM VALLEY PAVILIONS WEST
232,573-Square-Foot Power Retail Center Palm Pavillions West in Goodyear
232,573-Square-Foot Goodyear Power Retail Center Acquisition Part of Aggressive Valley Investment
Goodyear is one of the fastest growing submarkets in Metro Phoenix...this ensures our client’s investment stability of 92% national credit tenant lineup in an exceptionally low vacancy rate market.”
GOODYEAR, AZ, UNITED STATES, December 28, 2023 /EINPresswire.com/ -- Prominent Newport Beach, CA-based shopping mall owner Raymond Arjmand of RA Centers has acquired Palm Valley Pavilions West, a 232,573-square-foot power retail center in Goodyear directly located at the Northwest corner of Litchfield Road and Interstate 10.— Sean Lieb
Palm Valley Pavilions West was 99 percent occupied by national and regional tenants, including Best Buy, Total Wine & More, Barnes & Noble, Ulta Beauty, Ross Dress for Less, Visionworks, Kirkland's, 5 Below, Wildflower and more.
RA Centers is aggressively looking to acquire and invest in the Phoenix Metro. Palm Valley Pavilions is the second Arizona property under ownership along with Litchfield Park’s Camelback Crossing anchored by Bashas, Walgreens and Bank of America, adding to an impressive national portfolio of Grocery Anchored Shopping Centers.
RA Centers named Sean Lieb, Senior Vice President of LevRose Commercial Real Estate to handle leasing for Arizona. “Goodyear is one of the fastest growing submarkets in Metro Phoenix,” said Lieb. “This purchase ensures our client’s investment stability of 92% national credit tenant lineup in an exceptionally low vacancy rate market.”
Sean Lieb of LevRose Commercial Real Estate and Nader Arjmand, Senior Acquisitions Director of RA Centers handled the closing of this transaction for the buyer. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the undisclosed seller in the transaction.
About LevRose
Since 1992 LevRose has been a market leader in commercial real estate in the greater Phoenix metro area. The official Phoenix affiliate of TCN Worldwide, LevRose works hands-on with tenants, buyers and sellers to help aid in commercial real estate decisions.
Sean Lieb
LevRose Commercial Real Estate
+1 602-491-9295
slieb@levrose.com
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