Lena Centers Acquires Stetson Village Retail Center In Glendale For $71 Million From Pederson Group

The asset involved in this transaction is a fully leased retail center known as Stetson Village, located at 3780-3890 West Happy Valley Road in Glendale, AZ. The sale price for the property was $71,000,000, with a total square footage of 144,192, translating to a price per square foot of $492.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $71,000,000
• Address: 3780-3890 West Happy Valley Road
• Market: Glendale, AZ
• Square Footage: 144,192
• Price per Square Foot: $492
• Buyer: Lena Centers
• Seller: Jim Pederson - Pederson Group
• Brokerage: CBRE
• Brokers: Ryan Schubert, Michael Hackett & Zach Aulick

CBRE facilitated the sale of the retail center from Pederson Group to Lena Centers, a subsidiary of Longpoint Partners. The transaction benefits from the property's proximity to significant demand drivers, including TSMC's semiconductor plant, with CBRE's team managing the details of the deal.