Longpoint Realty Partners has recently acquired El Monte Shopping Plaza, a 101,269-square-foot retail center located in Phoenix. According to information from Commercial Edge, the property was sold by Primestor Development for $17 million. At the time of closing, the property was almost fully leased with a 99 percent occupancy rate.
Originally built in 1962 on an expansive 8.8-acre site, El Monte Shopping Plaza is home to various tenants including popular stores such as Baskin-Robbins and Shoe Palace as well as health services provider ArchWell Health and financial institution USA Cash Services. The anchor tenant is El Rancho Market IGA which specializes in Mexican and Hispanic groceries.
Conveniently situated at 8917 N.19th Ave., just south of Valley light rail and only twelve miles away from downtown Phoenix, this shopping plaza offers easy access to Interstate-17 making it easily accessible for shoppers from all over the city.
The transaction was arranged by Colliers brokers Mindy Korth, JK Jackson ,El Warner ,and Caitlin Zirpolo .
In addition to this acquisition in Phoenix , Longpoint also recently purchased another retail center located in Katy,Texas through JLL Capital Markets . This slightly smaller asset spans across approximately96 square feet and was completed backin1978.
Primestor Development has sold its asset – El Monte Shopping Plaza – a large retail center spanning over an area of more than one hundred thousand square feet situated within Phoenix city limits; Longpoint Realty Partners being its new owner after paying seventeen million dollars according to data provided by Commercial Edge.The deal closed when ninety-nine percent space had been rented out already.El Rancho Market IGA,a store specializing primarily into Mexican & Hispanic food items,is among fifteen other tenants that occupy this eight point eight acre plot.Besides these two,the remaining thirteen include names like Baskin-Robbins (an ice cream parlor),Shoe Palace (a shoe store),ArchWell Health (healthcare services provider) and USA Cash Services (financial institution).
El Monte Shopping Plaza was built in 1962 and is located at a prime location – just twelve miles away from downtown Phoenix,at 8917 N.19th Ave.,and very close to Valley light rail as well as Interstate-17.
The transaction was facilitated by Colliers’ Mindy Korth, JK Jackson ,El Warner & Caitlin Zirpolo .
Recently Longpoint Realty Partners had also bought another retail center in Katy,Texas which spans over an area of ninety-six thousand four hundred eighty-six square feet;JLL Capital Markets being the broker for this deal.The construction of this asset got completed backin1978.
