NNN Retail Pad Trades in Glendale, AZ

A family trust has acquired a four-tenant retail triple-net retail pad in Glendale, Arizona, for $7.6 million or $901 per square foot from ECC Bell Road Property.

The pad is shadow anchored by the 1.2 million-square-foot Arrowhead Towne Center Mall. It is 100% leased to national tenants, including The Habit Burger Grill, Tempur-Pedic, Pearle Vision and Blaze Pizza.

Hanley Investment Group Real Estate Advisors EVP Bill Asher and VP Jeff Lefko represented the seller in the deal. Pat Kent, Rich Walter and Parker Walter of SRS Real Estate Partners represented the buyer.