CIRE Investments purchased The Boulevard At Surprise Pointe, a 141,507 SF specialty/entertainment shopping center in Surprise for $17.5M. Ryan Schubert and Michael Hackett with Cassidy Turley Arizona’s Capital Markets Group represented the Seller, Karlin Real Estate.
Brad Douglass and Chris Hollenbeck with Cassidy Turley Arizona’s Retail Group will represent CIRE in leasing the asset.
“CIRE recognized the property’s potential and the significant upside the vacancy and future development offered,” Hackett said.
Located on the SEC of Waddell and Litchfield roads, the center includes eight strip-retail buildings and six land pads for future development. The Boulevard At Surprise Pointe anchor tenants include Ultra Star Cinemas, Walgreens and a new family entertainment center, Uptown Alley Entertainment Center (NAP). The center was 62% occupied at closing.
In another Cassidy Turley deal, Harvest Bible Church leased 10,561 SF at Arizona Corporate Plaza, 101 E. Comstock in Chandler. Pete Klees with Cassidy Turley’s Industrial Group represented both lessee and the lessor, Pacific Plaza, LLC, during the transaction.
Harvest Bible Church has a congregation in Phoenix at 48th St. and Cactus Rd. The Chandler location will be a new congregation servicing the East Valley.