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Arizona retail portfolio sold to institutional investor

Arizona Retail Portfolio Hero

Four properties in dynamic Phoenix suburbs attract buyer

PHOENIX – A four-property portfolio of retail assets located throughout the Greater Phoenix suburbs was purchased by a publicly traded real estate investment trust. The properties offer a solid investment opportunity in rapidly expanding markets within one of the nation’s fastest growing metropolitan areas. 

“Each of these properties offer a robust retail presence in high-growth areas of the expanding Metropolitan Phoenix market,” says Mindy Korth of Colliers in Arizona. “Investors are noticing as population immigration drives substantial energy to the area’s retail sector, especially in these suburban communities where corporations are expanding with attractive job opportunities.” 

The four-property portfolio was purchased by an institutional investor of retail properties. The investor purchased the assets from Boros Investments Inc. Korth and JK Jackson of Colliers in Arizona handled the sale transaction.

The portfolio included the following assets:

  • Chandler Center, 1245 W. Chandler Blvd. in Chandler, AZ
  • Broadway Center, 1537 W. Broadway Rd. in Tempe, AZ
  • Northsight Plaza, 15223 N. 87th St. in Scottsdale, AZ
  • Shops at Power and Baseline – 6807 E. Baseline Rd. in Mesa, AZ

The four properties totaling 31,078 square feet of building area were 100 percent leased. Tenants included Starbucks, Dunkin’ Donuts, Banner Urgent Care, Smashburger, and other national and regional merchants. The centers are located on major thoroughfares within close proximity to well-populated residential areas and popular business corridors. 
 
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues to $3.6 billion ($4.0 billion including affiliates) and $46 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
 
Colliers in Arizona has served clients locally and globally for more than 40 years.


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Mindy Korth

Executive Vice President

Phoenix

As an executive vice president of investment services with Colliers, Mindy Korth is accomplished in all sectors of the investment real estate community, including office, medical office, retail, datacenters, high-finish industrial, commercial land, and unique projects across metropolitan Phoenix and nationally.

Mindy leads an investment sales team that includes Jenny Bassett, real estate analyst; Kelsey Robinson, client services coordinator; and Alyssa Smith, client services coordinator.

Mindy is focused on identifying investment opportunities, executing client strategy, establishing relationships between parties, and coordinating property financial analysis and due diligence. Her wealth of industry, market, property, and financial intelligence provides clients with the information they need to make informed decisions and complete successful investment transactions. She has completed transactions totaling more than 26 million square feet, and more than $4.6 billion in value.

Throughout her career, Mindy has been involved in each aspect of real estate, including new and rehab development, financial structuring deals in capital markets, leasing, management, site selection, network planning, acquisitions and dispositions programming, financial analysis, and underwriting.

 

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John Jackson

Vice President

Phoenix

As associate vice president for retail services with Colliers, John (JK) Jackson specializes in the sale and leasing of retail properties, representing landlords, tenants and investors. He has completed transactions on behalf of tenants and landlords for retail shopping centers, neighborhood centers and standalone properties.

JK has the proven ability to achieve results for clients through comprehensive market strategies, long-range planning, identifying opportunities to increase cash flow and developing solutions for excess vacancy. A consummate professional, he thoroughly analyzes the financial details of each transaction to ensure his clients' economic and business objectives are met. He carefully crafts leases to support growth, minimize risk and protect investments.

As an experienced leasing broker, JK brings a dynamic and innovative prospecting style to the table. He targets quality tenants that represent the least risk and complement the tenant mix of each property. He works diligently to match tenant requirements and available space to support location decisions. Through market research, demographics and traffic analysis, JK helps tenants make strategic decisions to support their long-term plans.

His experience spans 13 years as a commercial real estate agent in Greater Phoenix, focusing on retail properties. Prior to joining Colliers, he was an associate vice president with Velocity Retail Group in Phoenix, where he represented landlords and tenants in the leasing of retail properties and worked closely with development services to identify and sign tenants to new projects. Previously, JK was a senior associate with Rein & Grossoehme Commercial Real Estate, specializing in landlord and tenant representation.

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