PHOENIX—Marcus & Millichap announces the sale of La Ronde Centre, a 106,503-square-foot retail property located in Sun City. The asset sold for $8 million. La Ronde Centre is located at 14656 N. Del Webb Blvd.
Sanford Burstyn, an investment specialist in Marcus & Millichap's Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Colin Brown from Transwestern represented the buyer.
Brown tells GlobeSt.com, the buyer, Barnett Dulaney Perkins Eye Center, intends to occupy 24,000 square feet of the property. “This will bring the occupancy rate from 63% to 81%,” he says. “The property was originally anchored by a grocery store, which was vacated years ago. Barnett Dulaney will take this space.”
The buy has larger redevelopment plans to include more medical-based uses for the center.
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