{"id":1004695856,"date":"2023-12-28T02:21:57","date_gmt":"2023-12-28T10:21:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004695856"},"modified":"2023-12-28T05:14:26","modified_gmt":"2023-12-28T13:14:26","slug":"ra-centers-buys-phoenix-area-power-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ra-centers-buys-phoenix-area-power-retail-center\/","title":{"rendered":"RA Centers Buys Phoenix-Area Retail Asset"},"content":{"rendered":"
\"\"<\/a>

Palm Valley Pavilions West was built in 1994. Image courtesy of Vestar<\/em><\/p><\/div>\n

RA Centers<\/strong> has purchased Palm Valley Pavilions West, a 232,573-square-foot power retail center<\/a> in Goodyear, Ariz. The new owner selected Vestar<\/strong> as the manager for the shopping center, which was 99 percent leased at the time of the sale.<\/p>\n

Cushman & Wakefield<\/strong> brokered the transaction, with Executive Managing Directors Michael Hackett and Ryan Schubert working on behalf of the seller.<\/p>\n

Pine Tree<\/strong> sold the asset, according to CommercialEdge data. The same source shows that Pine Tree acquired the property back in 2018 for $44.8 million, with Allianz Insurance Co<\/strong>. providing a $29.9 million loan.<\/p>\n

Located at 1400 N. Litchfield Road, the power center is within one of the fastest growing areas of the Greater Phoenix metro. Palm Valley Pavilions West is near Interstate 10, which provides direct access to downtown Phoenix.<\/p>\n

Completed in 1994, Palm Valley Pavilions West comprises five buildings on 25.4 acres. Anchored by Ross Dress for Less, Best Buy, Total Wine & More, Ulta and Barnes & Noble, the property also features a diverse mix of regional and national tenants such as Bath & Body Works, Famous Footwear, Kirkland\u2019s, Sunset Spa & Pools, Five Below, Wendy\u2019s, Subway, Chipotle and First Credit Union.<\/p>\n

Palm Valley Pavilions West represents the 19th property managed by Vestar in Arizona. The company operates a total of 63 shopping centers totaling more than 30 million square feet across the western U.S. Vestar and DMB Associates have recently landed six\u00a0anchor tenants<\/a> at a 512,000-square-foot future shopping center in Buckeye, Ariz.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cushman & Wakefield brokered the sale of Palm Valley Pavilions West, which will be managed by Vestar.<\/p>\n","protected":false},"author":3014,"featured_media":1004695859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,1601,21749,15],"tags":[32799,45494,35655],"class_list":["post-1004695856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-phoenix","category-retail","category-west","tag-cushman-wakefield","tag-pine-tree-opportunity-corporation","tag-vestar"],"acf":[],"yoast_head":"\nRA Centers Buys Phoenix-Area Retail Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Raymond Arjmand of RA Centers has purchased Palm Valley Pavilions West, a 232,573-square-foot power retail center in Goodyear, Az.\" \/>\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\/ra-centers-buys-phoenix-area-power-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RA Centers Buys Phoenix-Area Retail Asset\" \/>\n<meta property=\"og:description\" content=\"Raymond Arjmand of RA Centers has purchased Palm Valley Pavilions West, a 232,573-square-foot power retail center in Goodyear, Az.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ra-centers-buys-phoenix-area-power-retail-center\/\" \/>\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=\"2023-12-28T10:21:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-28T13:14:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Palm-Valley-e1703688319240.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1776\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\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\/ra-centers-buys-phoenix-area-power-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/ra-centers-buys-phoenix-area-power-retail-center\/\",\"name\":\"RA Centers Buys Phoenix-Area Retail Asset - 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