Plaza 32 Community Shopping Center Sold For $31.3M At Phoenix's 32nd Street And Bell Road

Plaza 32, a community shopping center located at the southeast corner of 32nd Street and Bell Road in Phoenix, Arizona, has been sold for $31.3 million. The property spans 15.9 acres and boasts a total square footage of 173,303. The sale price comes out to $181 per square foot. The transaction was part of a 1031 exchange and the buyer remains undisclosed.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $31,300,000
• Address: 3208-3246 E Bell Rd, Phoenix, AZ
• Market: Phoenix, AZ
• Acres: 15.9

The sale of Plaza 32 was facilitated by Chad Tiedeman and Steven Underwood of Phoenix Commercial Advisors, who served as the brokers in the transaction. They were instrumental in connecting the undisclosed buyer with the seller, ensuring a successful 1031 exchange deal. The transaction marks another significant investment in Phoenix's retail market, showcasing the demand for shopping centers in the area.