CBRE completed the $14.03M sale of Thunderbird Crossing, a 79,789 SF neighborhood retail center at the SWC of 83rd Ave. and Thunderbird Rd. in Peoria.
Cam Stanton, Andrew Fosberg and Steve Fernandez of CBRE’s Phoenix office represented the sellers, C&D Thunderbird LLC and K&Y T-Bird & 83rd Shops LLC of Los Gatos, Calif., and structured the sale. The buyer, HAM Maricopa of Phoenix, purchased the property as part of a 1031 exchange.
“Originally only the shop space at Thunderbird Crossing was offered for sale. However, once the anchors were added to the deal, interest peaked and we made a quick sale,” said Stanton. “Investors always prefer retail centers that include the major tenants.”
Built in 2004, Thunderbird Crossing has 24,143 SF of shop space and 55,646 SF of anchor space that is occupied by a Sprouts Farmers Market and a 99¢ Only discount store.