Pine Tree Acquires Arrowhead Crossing Retail Center In Peoria, AZ For $91M

The retail property located at 7525 West Bell Road in Peoria, AZ, known as Arrowhead Crossing, was sold for $91 million. The 422,000 square foot asset was acquired by Pine Tree in partnership with a state pension fund. The notable tenants of the retail center include Burlington, TJ Maxx, and Nordstrom Rack. As of June 10th, only 5,000 square feet of the space is available for lease.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $91,000,000
• Square Footage: 422,000
• Price per Square Foot: $216
• Address: 7525 West Bell Road
• Market: Peoria, AZ
• Buyer: Pine Tree
• Broker: Deanna Lelli - Site Centers

Deanna Lelli, representing Site Centers, facilitated the sale of Arrowhead Crossing to Pine Tree and a state pension fund. This transaction underscores the strategic acquisition of a major retail center in Peoria, solidifying the market position for the parties involved.