Cushman & Wakefield recently announced that the firm has brokered the sale of Shea Plaza, an 88,985 square-foot retail shopping center located at the northeast corner of 32nd Street and Shea Boulevard. The buyer was Imagine Shea, LLC, based in Phoenix, and sold for $9.85 million.
The seller was Miami, Florida-based Starwood Property Trust, which was represented in the transaction by Michael Hackett and Ryan Schubert with Cushman & Wakefield in Phoenix.
“Shea Plaza is an infill grocery-anchored asset positioned in an improving Phoenix submarket,” says Michael Hackett.
Anchored by Bashas, Shea Plaza features a mix of popular North 32nd businesses. Shea Plaza encompasses 7.75 acres and was 78.8% occupied at the time of the sale.