James Shough Acquires Paradise Valley Marketplace Retail Center In Phoenix For $45 Million

The retail asset located at 10810 Tatum Boulevard in Phoenix, AZ, was sold for $45 million. The property has an area of 81,276 square feet and had a price per square foot of $554 at the time of the transaction. The retail center was 66% leased when sold but has since achieved full occupancy, with Shamrock Foodservice Warehouse filling the 32,000-square-foot space previously occupied by Whole Foods.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $45,000,000
• Buyer: James Shough
• Seller: Kite Realty Group Trust
• Square Footage: 81,276
• Price Per Square Foot: $554
• Market: Phoenix, AZ
• Leasing Status at Sale: 66% leased
• Current Occupancy Status: Full occupancy
• New Tenant: Shamrock Foodservice Warehouse
• Vacated Space: 32,000 sf

James Shough's LLC was the entity that acquired the property from Kite Realty Group Trust. This transaction highlights the change in tenant composition, with Shamrock Foodservice Warehouse taking over a significant portion of the space previously occupied by Whole Foods.