{"id":1004761863,"date":"2025-06-18T02:31:41","date_gmt":"2025-06-18T10:31:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004761863"},"modified":"2025-06-18T02:33:08","modified_gmt":"2025-06-18T10:33:08","slug":"crc-buys-phoenix-power-center-for-54m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/","title":{"rendered":"CRC Buys Phoenix Power Center for $54M"},"content":{"rendered":"\n<p>Continental Realty Corp. has entered the Arizona market with the purchase of Sundance Towne Center, a 203,525-square-foot regional power center in Buckeye, Ariz. CBRE represented the seller, Shin Yen Management, in the $54.3 million transaction.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1668\" height=\"1253\" data-attachment-id=\"1004761864\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/sundance-towne-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg\" data-orig-size=\"1668,1253\" 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;1&quot;}\" data-image-title=\"Sundance Towne Center\" data-image-description=\"&lt;p&gt;Sundance Towne Center. Image courtesy of CRC&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Sundance Towne Center. Image courtesy of CRC&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg\" alt=\"Aerial image of Sundance Towne Center in Buckeye, Ariz.\" class=\"wp-image-1004761864\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">Sundance Towne Center&#8217;s tenant roster includes nearly 50 retailers.<em> Image courtesy of CRC<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Shin Yen had acquired the retail center back in 2015 from Vestar for $40 million, according to CommercialEdge data. In 2023, the property became subject to a $34 million loan originated by East West Bank.<\/p>\n\n\n\n<p>The 2008-completed Sundance Towne Center encompasses 12 buildings spread across some 32 acres. The property was 94 percent leased at the time of sale.<\/p>\n\n\n\n<p>Shadow-anchored by Walmart Supercenter and Lowe\u2019s Home Improvement, the retail center features a diverse mix of regional and national retailers such as PetSmart, Boot Barn, Bealls Outlet, AutoZone, BMO Bank, Cracker Barrel, Dollar Tree, Dunn-Edwards Paints, Mattress Firm, KFC and Chipotle, among others.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/retails-resilience-draws-private-capital-back\/\">Retail\u2019s Resilience Draws Private Capital Back<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located at 466 S. Watson Road, Sundance Towne Center is in an area where the daily traffic count reaches approximately 73,000 vehicles. The property serves more than 80,000 residents within a 5-mile radius, with an average household income of nearly $120,000, according to CRC.<\/p>\n\n\n\n<p>CBRE&#8217;s Michael Hackett, Jimmy Slusher, Ryan Schubert and Zach Aulick negotiated on behalf of the seller.<\/p>\n\n\n\n<p>Earlier this month, <a href=\"https:\/\/www.commercialsearch.com\/news\/crc-buys-miami-center-for-88m\/\">CRC purchased CityPlace Doral<\/a>, a 235,000-square-foot grocery-anchored lifestyle and entertainment center in Doral, Fla.\u2014a deal marking its entrance into the Miami-Dade County market. Since the beginning of 2021, the firm has acquired retail properties worth $900 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-phoenix-s-retail-scene\">Phoenix\u2019s retail scene<\/h2>\n\n\n\n<p>Fundamental tightness continues to define the Phoenix retail market, with limited availability and strong demand persisting. The <a href=\"https:\/\/www.commercialsearch.com\/news\/behind-retailers-store-shuttering-strategy\/\">store closings<\/a> of last year offered other retailers the possibility to expand, however the average asking rent still fell 0.9 percent quarter-over-quarter, according to a first-quarter CBRE report. <\/p>\n\n\n\n<p>Meanwhile, the metro\u2019s vacancy rate clocked in at 5.6 percent, down 10 basis points over the quarter. Phoenix\u2019s retail sector recorded 197,670 square feet of positive net absorption and saw about 55,989 square feet in completions, while approximately 1.2 million square feet were under construction at the time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This deal marks the company&#8217;s entrance in Arizona.<\/p>\n","protected":false},"author":3014,"featured_media":1004761864,"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":[32789,34468,35655],"class_list":["post-1004761863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-phoenix","category-retail","category-west","tag-cbre","tag-continental-realty-corporation","tag-vestar"],"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>CRC Buys Phoenix Power Center for $54M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Continental Realty Corp. purchased Sundance Towne Center, a regional power center in Buckeye, Ariz., near Phoenix, from Shin Yen Management.\" \/>\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\/crc-buys-phoenix-power-center-for-54m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CRC Buys Phoenix Power Center for $54M\" \/>\n<meta property=\"og:description\" content=\"Continental Realty Corp. purchased Sundance Towne Center, a regional power center in Buckeye, Ariz., near Phoenix, from Shin Yen Management.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/\" \/>\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=\"2025-06-18T10:31:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-18T10:33:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1668\" \/>\n\t<meta property=\"og:image:height\" content=\"1253\" \/>\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\/crc-buys-phoenix-power-center-for-54m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/\",\"name\":\"CRC Buys Phoenix Power Center for $54M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg\",\"datePublished\":\"2025-06-18T10:31:41+00:00\",\"dateModified\":\"2025-06-18T10:33:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Continental Realty Corp. purchased Sundance Towne Center, a regional power center in Buckeye, Ariz., near Phoenix, from Shin Yen Management.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg\",\"width\":1668,\"height\":1253,\"caption\":\"Sundance Towne Center. Image courtesy of CRC\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CRC Buys Phoenix Power Center for $54M\"}]},{\"@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\/a0c04b9de1387474e28c9ebdb0444e59\",\"name\":\"Diana Firtea\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/DianaFirtea_AuthorPhoto.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/DianaFirtea_AuthorPhoto.jpg?w=96\",\"caption\":\"Diana Firtea\"},\"description\":\"Diana Firtea is an associate editor with Commercial Property Executive and Multi-Housing News. She has been with the company for almost four years and joined the CPE-MHN team in 2022. Diana writes stories on different topics, mainly focusing on the affordable, senior, office and retail markets. You can reach out to her at diana.firtea@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/diana-firtea\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"CRC Buys Phoenix Power Center for $54M - Commercial Property Executive","description":"Continental Realty Corp. purchased Sundance Towne Center, a regional power center in Buckeye, Ariz., near Phoenix, from Shin Yen Management.","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\/crc-buys-phoenix-power-center-for-54m\/","og_locale":"en_US","og_type":"article","og_title":"CRC Buys Phoenix Power Center for $54M","og_description":"Continental Realty Corp. purchased Sundance Towne Center, a regional power center in Buckeye, Ariz., near Phoenix, from Shin Yen Management.","og_url":"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2025-06-18T10:31:41+00:00","article_modified_time":"2025-06-18T10:33:08+00:00","og_image":[{"width":1668,"height":1253,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg","type":"image\/jpeg"}],"author":"Diana Firtea","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\/crc-buys-phoenix-power-center-for-54m\/","url":"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/","name":"CRC Buys Phoenix Power Center for $54M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg","datePublished":"2025-06-18T10:31:41+00:00","dateModified":"2025-06-18T10:33:08+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59"},"description":"Continental Realty Corp. purchased Sundance Towne Center, a regional power center in Buckeye, Ariz., near Phoenix, from Shin Yen Management.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg","width":1668,"height":1253,"caption":"Sundance Towne Center. Image courtesy of CRC"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/crc-buys-phoenix-power-center-for-54m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"CRC Buys Phoenix Power Center for $54M"}]},{"@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\/a0c04b9de1387474e28c9ebdb0444e59","name":"Diana Firtea","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/DianaFirtea_AuthorPhoto.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/DianaFirtea_AuthorPhoto.jpg?w=96","caption":"Diana Firtea"},"description":"Diana Firtea is an associate editor with Commercial Property Executive and Multi-Housing News. She has been with the company for almost four years and joined the CPE-MHN team in 2022. Diana writes stories on different topics, mainly focusing on the affordable, senior, office and retail markets. You can reach out to her at diana.firtea@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/diana-firtea\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Sundance-Towne-Center-e1750235629549.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004761863","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\/3014"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004761863"}],"version-history":[{"count":9,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004761863\/revisions"}],"predecessor-version":[{"id":1004761907,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004761863\/revisions\/1004761907"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004761864"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004761863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004761863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004761863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}