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JP Realty Pulls About $7.5 Mil for Glendale Retail Site

GLENDALE, AZ-JP Realty of Salt Lake City sells its only Glendale proper shopping center. The 119,624-sf center along W. Bethany Road brings $7.5 million from local investors. JP Realty built the center in the early 1980s.

By Connie Gore | Updated on November 08, 2001

GLENDALE, AZ-JP Realty Inc. of Salt Lake City has hawked a 119,624-sf shopping center at 4300 W. Bethany Home Rd. in Glendale. JP Realty received about $7.5 million for the fully occupied community shopping center.

Rex Frazier, president of JP Realty, tells GlobeSt.com that the buyer’s identity is being withheld, but did say it’s a local investment group with other commercial real estate holdings in the Southwest. In a press release, JP Realty says the proceeds will be used for general corporate purposes. The firm owns and has interests in 50 properties, consisting of 18 regional malls, 25-anchored community centers, a freestanding retail property and six mixed-use holdings. The portfolio of more than 15.2 million sf spans 10 western states.

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