NAI BT Commercial represented both parties in the sale of Shade at Desert Ridge, a recently constructed shopping center in Phoenix, Ariz.
The value of the transaction was $16 million.
The 42,706-square-foot property, located on Tatum Boulevard off the 101 Loop, was fully leased and anchored at the time of sale by Walgreen’s, Wells Fargo Bank and Starbucks, all with drive-through windows.
Warmington Capital Partners purchased the center from Geneva Holdings.
NAI BT Commercial is a commercial real estate firm primarily providing services through 14 offices in Northern California.