Big V Property Group Sells Retail Asset In Peoria, AZ For $29M

The retail property located at 24654 North Lake Pleasant Parkway in Peoria, AZ has been sold for a price of $29,000,000. The property spans across 46,559 square feet, resulting in a price per square foot of $623. The sale was completed on 12/19/2023.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $29,000,000
• Square Footage: 46,559
• Price per Square Foot: $623
• Address: 24654 North Lake Pleasant Parkway, Peoria, AZ
• Market: Peoria, AZ

The sellers of the property were Tony D'Ambrosio, Tyler Anderson, and Jeffery Rosenberg from Big V Property Group. They were represented in the transaction by Michael Hackett, Ryan Schubert, and Zach Aulick from Cushman and Wakefield.

According to Tyler Anderson, a representative from the selling group, the sale of these high-quality outparcels will benefit the Lake Pleasant Pavilion investors. The group is pleased to have found a distinguished purchaser who aligns well with their business plan for the shopping center. They believe that the remaining portion of the shopping center will thrive under their ownership and operation in the sought-after Phoenix MSA.