{"id":1004739116,"date":"2024-12-02T00:51:00","date_gmt":"2024-12-02T08:51:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004739116"},"modified":"2024-12-02T01:23:22","modified_gmt":"2024-12-02T09:23:22","slug":"longpoint-acquires-phoenix-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-phoenix-shopping-center\/","title":{"rendered":"Longpoint Acquires Phoenix Shopping Center"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/El-Monte-Shopping-Plaza-in-Phoenix-Ariz-edited.jpeg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004739118\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/el-monte-shopping-plaza-in-phoenix-ariz-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/El-Monte-Shopping-Plaza-in-Phoenix-Ariz-edited.jpeg\" data-orig-size=\"1137,853\" data-comments-opened=\"0\" 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=\"El Monte Shopping Plaza in Phoenix, Ariz.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/El-Monte-Shopping-Plaza-in-Phoenix-Ariz-edited.jpeg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/El-Monte-Shopping-Plaza-in-Phoenix-Ariz-edited.jpeg\" alt=\"Exterior shot of El Monte Shopping Plaza in Phoenix.\" class=\"wp-image-1004739118\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/El-Monte-Shopping-Plaza-in-Phoenix-Ariz-edited.jpeg 1137w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/El-Monte-Shopping-Plaza-in-Phoenix-Ariz-edited.jpeg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/El-Monte-Shopping-Plaza-in-Phoenix-Ariz-edited.jpeg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/El-Monte-Shopping-Plaza-in-Phoenix-Ariz-edited.jpeg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">El Monte Shopping Plaza has been operational since 1962. <em>Image courtesy of Colliers<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Lena Centers, a Longpoint Realty Partners division, has acquired El Monte Shopping Plaza, a 101,269-square-foot retail center in Phoenix. Primestor Development sold the asset for $17 million, according to CommercialEdge information. The property was 99 percent leased at the time of closing.&nbsp;<\/p>\n\n\n\n<p>El Monte Shopping Plaza came online in 1962 and has since been continuously serving more than 160,000 people living within a 3-mile radius. Covering an 8.8-acre site, the property is anchored by El Rancho Market IGA, a Mexican and Hispanic specialty grocery store. Its tenant roster comprises 15 tenants, including Baskin-Robbins, Shoe Palace, ArchWell Health and USA Cash Services.&nbsp;<\/p>\n\n\n\n<p>El Monte Shopping Plaza is at 8917 N. 19th Ave., just south of the Valley light rail and 12 miles from downtown Phoenix. Interstate 17 is also nearby.<\/p>\n\n\n\n<p>Colliers Executive Vice President Mindy Korth and Vice President JK Jackson together with Vice Chair El Warner and Vice President Caitlin Zirpolo arranged the transaction.&nbsp;<\/p>\n\n\n\n<p>Earlier this month, Longpoint purchased a slightly smaller <a href=\"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-houston-shopping-center\/\">retail center in Katy, Texas<\/a>. JLL Capital Markets brokered the sale of the 96,486-square-foot asset that was completed in 1978.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property was 99 percent leased at the time of sale. <\/p>\n","protected":false},"author":3619,"featured_media":1004739118,"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":[51923,52372],"class_list":["post-1004739116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-phoenix","category-retail","category-west","tag-longpoint","tag-primestor-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Longpoint Acquires Phoenix Shopping Center - 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