{"id":1004129757,"date":"2015-10-21T03:10:12","date_gmt":"2015-10-21T11:10:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004129757"},"modified":"2020-04-16T05:21:13","modified_gmt":"2020-04-16T13:21:13","slug":"alex-brown-pivot-jv-grabs-another-retail-asset-in-phoenix","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/alex-brown-pivot-jv-grabs-another-retail-asset-in-phoenix\/","title":{"rendered":"Alex. Brown, Pivot JV Grabs Another Retail Asset in Phoenix"},"content":{"rendered":"<p><em>By Ioana Neamt, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004129457\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/AAEAAQAAAAAAAAUTAAAAJDljODlhZGU5LTg0ZWUtNGU4Zi1hMTkyLTUzYzkyYjk5NWQ4Ng.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004129457\" data-attachment-id=\"1004129457\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/phoenix-retail-center-gets-a-fresh-start\/aaeaaqaaaaaaaautaaaajdljodlhzgu5ltg0zwutngu4zi1hmtkyltuzyzkyyjk5nwq4ng\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/AAEAAQAAAAAAAAUTAAAAJDljODlhZGU5LTg0ZWUtNGU4Zi1hMTkyLTUzYzkyYjk5NWQ4Ng.jpg\" data-orig-size=\"300,300\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"AAEAAQAAAAAAAAUTAAAAJDljODlhZGU5LTg0ZWUtNGU4Zi1hMTkyLTUzYzkyYjk5NWQ4Ng\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/AAEAAQAAAAAAAAUTAAAAJDljODlhZGU5LTg0ZWUtNGU4Zi1hMTkyLTUzYzkyYjk5NWQ4Ng.jpg?w=300\" class=\"wp-image-1004129457 size-full\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/AAEAAQAAAAAAAAUTAAAAJDljODlhZGU5LTg0ZWUtNGU4Zi1hMTkyLTUzYzkyYjk5NWQ4Ng.jpg\" alt=\"Tom Burton of Alex. Brown Realty\" width=\"300\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/AAEAAQAAAAAAAAUTAAAAJDljODlhZGU5LTg0ZWUtNGU4Zi1hMTkyLTUzYzkyYjk5NWQ4Ng.jpg 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/10\/AAEAAQAAAAAAAAUTAAAAJDljODlhZGU5LTg0ZWUtNGU4Zi1hMTkyLTUzYzkyYjk5NWQ4Ng.jpg?resize=150,150 150w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004129457\" class=\"wp-caption-text\"><em>Tom Burton of Alex. Brown Realty<\/em><\/p><\/div>\n<p>A mere week after acquiring <a href=\"https:\/\/www.commercialsearch.com\/news\/property-types\/retail\/phoenix-retail-center-gets-a-fresh-start\/1004129456.html\" target=\"_blank\">a 106,656-square-foot retail center<\/a> in Scottsdale, Ariz., a joint venture between <a href=\"https:\/\/www.abrealty.com\/\" target=\"_blank\" rel=\"nofollow\">Alex. Brown Realty Inc.<\/a> and Pivot Development has added another asset to its Phoenix portfolio.<\/p>\n<p>On October 19, the venture announced it had acquired the 94,379-square-foot North Mountain Village retail center in north Phoenix. Alex. Brown\u2019s ABR Chesapeake Fund IV invested $3.5 million in the joint venture.<\/p>\n<p>\u201cThe center represents an attractive value-add opportunity,\u201d Tom Burton, ABR\u2019s chief investment officer, said in a statement. \u201cWith targeted improvements and Pivot\u2019s extensive retail experience in the Phoenix area, we anticipate outstanding results for our investors.\u201d<\/p>\n<p>Baltimore-based Alex. Brown, together with Pivot, plans\u00a0to complete targeted capital improvements to the center, which will include fa\u00e7ade renovations, roof repairs, and new signage. The 29-year-old retail center was last renovated back in 2006.<\/p>\n<p><em>Image courtesy of Tom Burton via LinkedIn<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Another week brings another retail deal to the Valley of the Sun.<\/p>\n","protected":false},"author":192,"featured_media":1004129457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1601,21749],"tags":[],"class_list":["post-1004129757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-phoenix","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Alex. 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