Lee & Associates Arizona announced today that the Fincham Dempsey Team arranged the sale of the 118,377-square-foot Talavi Towne Center for $21.9 million. Principals Jan Fincham and Patrick Dempsey facilitated the transaction on behalf of the seller, Kimco Towne Center, LLC, and the buyer, Talavi Bell, LLC.
Situated on 12.25-acres at 5845 W. Bell Road in Glendale, Ariz., the property’s tenants include WalMart Super Center, MOR Furniture, Dollar Tree, Leslie’s Pool Mart and Cricket Wireless.
“Talavi Towne Center is attractive to investors because of its strategic location in the Northwest area of Phoenix, two miles east of Arrowhead Mall,” said Dempsey. “The property sits in an infill location with significant barriers to entry for any new future retail development, ensuring the stability and long-term success of Talavi Towne Center.”
According to Fincham, 330,000 residences live within a 5-mile radius of the shopping center and earn an average annual household income of more than $73,000. For more information on the property, visit www.leearizona.com, contact Dempsey at (602) 954-3772, or contact Fincham at (602) 954-3754.