Situated at 5120 – 5160 W Baseline Rd, the portfolio features four parcels, shadow to a high-performing Fry’s Food & Drug.
Shops at Laveen Village is a grocery-anchored neighborhood shopping center located in Laveen Village, Arizona. Fronting the northwest corner of W. Baseline Road and S. 51st Avenue, the property enjoys premium visibility and convenience to more than 60,000 vehicles passing through the intersection per day and enviable shadow space proximity to the top-performing Fry’s Food & Drug in metro Phoenix based on consumer traffic per square foot. Consisting of two multi-unit and two single-unit buildings totaling 39,763 square feet, the property is 100% occupied by a diverse stable of e-commerce resistant tenants including Starbuck’s, Chipotle, Subway and, on ground leases, McDonald’s and Wells Fargo Bank.
“This latest acquisition is consistent with our strategy to acquire high quality, complementary retail assets with strong tenant rosters and superb locations,” said Josh Katzer, Partner and Director of Development at Armstrong Capital Development. “As a core asset that we believe possesses all of the needed features for long-term value, Laveen Village makes a terrific addition to our portfolio.”
“This is a shopping center that hits on nearly every single criterion we look for in a retail acquisition: high traffic intersection fed by the dominant grocer in the trade area, shops with high visibility, a long-tenured stable tenant base, and a great mix of strong-performing tenants” said Katzer. “We’re very excited to add this shopping center to our portfolio and further expand our footprint in the Phoenix market.”
Situated at a high traffic intersection fed by a top performing Fry's & Home Depot
- Anchored by the top performing Fry's Marketplace in the area (based on consumer traffic per square foot according to placer.ai, March 2022)
- Top-tier tenants including Chipotle, Starbucks, Wells Fargo and McDonalds
- Convenient access and high-profile visibility