Arrowhead Crossing, a 422,000-square-foot retail center located at the intersection of Bell Road and 77th Avenue in Peoria, has been sold for $91 million. The buyer was Pine Tree along with a state pension fund. Deanna Lelli of Site Centers acted as the seller’s agent.
Built in 2003, this shopping center is home to popular retailers such as Burlington, Five Below, TJ Maxx,Nordstrom Rack , HomeGoods and Golf Galaxy. As of June 10th , only a small portion of 5,000 square feet remained available for lease.
Strategically located near Arrowhead Towne Center – an enclosed regional mall that serves as the main retail destination for the area – Arrowhead Crossing offers excellent visibility and easy access from Bell Road and North 77th Avenue. Additionally,it is conveniently situated next to Peoria Sports Complex which hosts spring training games for Seattle Mariners and San Diego Padres every year,drawing seasonal tourists to the area.
This recent transaction highlights strong demand for well-positioned retail properties in thriving markets like Peoria,and showcases continued investor confidence in Arizona’s commercial real estate market.
