{"id":1004133799,"date":"2015-12-17T08:36:25","date_gmt":"2015-12-17T16:36:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004133799"},"modified":"2020-05-21T04:21:25","modified_gmt":"2020-05-21T12:21:25","slug":"phoenixs-oldest-shopping-mall-changes-hands-for-115m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/","title":{"rendered":"Phoenix\u2019s Oldest Shopping Mall Changes Hands for $115M"},"content":{"rendered":"

By Ioana Neamt, Associate Editor<\/em><\/p>\n

\"Christown<\/a>

Christown Spectrum Mall entrance<\/p><\/div>\n

PHOENIX\u2014Kimco Realty Corp.<\/a> of New Hyde Park, N.Y. has acquired the Christown Spectrum Mall<\/a> in Phoenix, for the price tag of $115.3 million\u2014the equivalent of about $136 per square foot. According to CoStar<\/a>, Bill Palmer and John Sedar of Palmer Capital Inc.<\/a> represented the seller, Coventry Real Estate Advisors<\/a>, in the transaction.<\/p>\n

Located at 1703 W. Bethany Home Road, adjacent to the second-busiest light rail station in the city, the 850,000-square-foot mall was 94 percent occupied at the time of sale. The power center is anchored by a Wal-Mart Supercenter, Costco and Super Target\u2014the only shopping center in the U.S. to house all three retailers. The mall\u2019s tenant roster also includes Walgreens, Bank of America, Ross Dress for Less, PetSmart, Dollar Tree, Taco Bell, and a Harkins Theatres 14-screen multiplex, among many others.<\/p>\n

Built in 1961, Christown Spectrum offers multiple redevelopment and value-add opportunities, including the expansion of the leasable square footage, the development of numerous retail pads, and several below-market leases.<\/p>\n

Kimco Realty has been publicly traded on the New York Stock Exchange (NYSE) since 1991, and is currently North America\u2019s largest publicly traded owner and operator of open-air shopping centers. As of September 2015, the company owned interests in 710 retail centers encompassing 105 million square feet across 39 U.S. states, Puerto Rico and Canada.<\/p>\n

Image courtesy of the Christown Spectrum Facebook page<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Kimco Realty shelled out a whopping $115.3 million for an 850,000-square-foot retail center in the Phoenix metropolitan area.<\/p>\n","protected":false},"author":192,"featured_media":1004133800,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,1601,21749],"tags":[],"class_list":["post-1004133799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-phoenix","category-retail"],"acf":[],"yoast_head":"\nPhoenix\u2019s Oldest Shopping Mall Changes Hands for $115M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix\u2019s Oldest Shopping Mall Changes Hands for $115M\" \/>\n<meta property=\"og:description\" content=\"Kimco Realty shelled out a whopping $115.3 million for an 850,000-square-foot retail center in the Phoenix metropolitan area.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-12-17T16:36:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-21T12:21:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/10427223_10152968689993156_4849713813021465216_n.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"960\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/\",\"name\":\"Phoenix\u2019s Oldest Shopping Mall Changes Hands for $115M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/10427223_10152968689993156_4849713813021465216_n.jpg\",\"datePublished\":\"2015-12-17T16:36:25+00:00\",\"dateModified\":\"2020-05-21T12:21:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/993af2799cdaf5162633d320cf63ff16\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/10427223_10152968689993156_4849713813021465216_n.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/10427223_10152968689993156_4849713813021465216_n.jpg\",\"width\":720,\"height\":960},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Phoenix\u2019s Oldest Shopping Mall Changes Hands for $115M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/993af2799cdaf5162633d320cf63ff16\",\"name\":\"Ioana Neamt\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c23143e2bbd052c3212795512e12716f2eb2fe548856495df0a99e5404af3d75?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c23143e2bbd052c3212795512e12716f2eb2fe548856495df0a99e5404af3d75?s=96&d=mm&r=g\",\"caption\":\"Ioana Neamt\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/ioana-neamtyardi-com\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Phoenix\u2019s Oldest Shopping Mall Changes Hands for $115M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/","og_locale":"en_US","og_type":"article","og_title":"Phoenix\u2019s Oldest Shopping Mall Changes Hands for $115M","og_description":"Kimco Realty shelled out a whopping $115.3 million for an 850,000-square-foot retail center in the Phoenix metropolitan area.","og_url":"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-12-17T16:36:25+00:00","article_modified_time":"2020-05-21T12:21:25+00:00","og_image":[{"width":720,"height":960,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/10427223_10152968689993156_4849713813021465216_n.jpg","type":"image\/jpeg"}],"author":"Ioana Neamt","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/","url":"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/","name":"Phoenix\u2019s Oldest Shopping Mall Changes Hands for $115M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/10427223_10152968689993156_4849713813021465216_n.jpg","datePublished":"2015-12-17T16:36:25+00:00","dateModified":"2020-05-21T12:21:25+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/993af2799cdaf5162633d320cf63ff16"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/10427223_10152968689993156_4849713813021465216_n.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/10427223_10152968689993156_4849713813021465216_n.jpg","width":720,"height":960},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/phoenixs-oldest-shopping-mall-changes-hands-for-115m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Phoenix\u2019s Oldest Shopping Mall Changes Hands for $115M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/993af2799cdaf5162633d320cf63ff16","name":"Ioana Neamt","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c23143e2bbd052c3212795512e12716f2eb2fe548856495df0a99e5404af3d75?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c23143e2bbd052c3212795512e12716f2eb2fe548856495df0a99e5404af3d75?s=96&d=mm&r=g","caption":"Ioana Neamt"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/ioana-neamtyardi-com\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/10427223_10152968689993156_4849713813021465216_n.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004133799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/192"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004133799"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004133799\/revisions"}],"predecessor-version":[{"id":1004450479,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004133799\/revisions\/1004450479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004133800"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004133799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004133799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004133799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}