Phoenix Commercial Advisors supported the sale of Tower Plaza, a seven-tenant retail building on the southwest corner of 40th Street and Thomas Road. The stores, located on 3.18 acres at 3935 E. Thomas Road, Phoenix, were sold for $ 7,200,000 or $ 160 per square foot above the asking price. The 44,884-square-foot building is 100 percent leased to a mix of local and national tenants including Red Wing Shoes, Peter Piper Pizza, WSS, Ombudsman, Tombstone Brewing Company, Third Space Athletic Club, and Oscar’s Mexican Food. Danny Gardiner and Torrey Briegel from Phoenix Commercial Advisors represented the seller on the transaction. ALSO READ: The data shows an improvement in the – but still fragile – office market in Phoenix “The shops are located in a dynamic industrial park with a dense population. These factors, coupled with the fact that many of the tenants have been there for more than 20 years, make this an attractive asset. We also received several full price offers on Tower Plaza. All of this helped it go where it was, ”said Danny Gardiner Phoenix Commercial Advisors, founded in 1994, is a commercial real estate services company. The company specializes in brokering retail outlets in Phoenix, Tucson, and the surrounding Arizona communities, providing leasing, rental agency representation, investment sales, and remediation services to local and national retailers and real estate investors. Phoenix Commercial Advisors has 250 years of combined expertise and is also a member of ChainLinks Retail Advisors, the leading national retail platform connecting elite brokerage companies in the 50 most important North American markets.
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