ARIZONA NEWS

Retail center near Glendale Community College sells for $5.5 million

Apr 25, 2024, 4:25 AM | Updated: 12:29 pm

2015 K&A Kisidiaris Trust bought Glendale retail center Avenue at Olive Park for $5.5 million...

2015 K&A Kisidiaris Trust bought Glendale retail center Avenue at Olive Park (Focus AZ Photo).

(Focus AZ Photo)

PHOENIX– A retail center near Glendale Community College was sold for $5.5 million, the real estate firm that brokered the deal announced Wednesday.

Avenue at Olive Park is located on the corner of Olive and 59th avenues. The sale was completed through Western Retail Advisors, a commercial real estate brokerage firm.

This marks another retail center in Arizona sold by Western Retail Advisors in the month of April as they helped with the sale of 83 Marketplace, a Peoria retail center.

The retail center is fully leased with local and national food and retail uses, including dd’s Discounts, McDonald’s, Panda Express, Jack in the Box and Circle K.

How was the sale of Avenue at Olive Park completed?

WRA Vice President Darrell Deshaw represented the Avenue at Olive Park property seller, and Gabe Manzanares from Compass Commercial represented the property buyer, 2015 K&A Kisidiaris Trust.

“Avenue at Olive Park provides exceptional stability and visibility, with very strong daytime and nighttime foot traffic, and the opportunity for this new owner to grow alongside Phoenix’s booming retail market and steady rent growth,” Deshaw said in a press release.

“It is a great transaction underscoring Glendale’s position as a dynamic retail market with continued potential.”

The 3-acre retail center is located at 5814 W. Olive Avenue in Glendale. It is nearby areas like Glendale’s Sports and Entertainment District and Luke Air Force Base.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

An 11-year-old girl was hospitalized after almost drowning in Phoenix on May 19, 2024. (Pexels Phot...

KTAR.com

11-year-old girl hospitalized after nearly drowning when hair caught in Phoenix pool

An 11-year-old girl was hospitalized after her hair got caught in an underwater pool fixture in Phoenix, authorities said Monday.

2 minutes ago

Eleven defendants met on Dec. 14, 2020, to sign a certificate falsely claiming they were “duly el...

KTAR.com

Read the unredacted indictment in Arizona Republican fake elector investigation

Arizona Attorney General Kris Mayes on Monday released the unredacted indictment in the case where 18 high-profile suspects are accused of taking part in a Republican fake elector scheme in the state.

1 hour ago

Follow @KTAR923...

KTAR.com

Fatal shooting in north Tempe under investigation; Man dies at the scene

An investigation is underway after a man was fatally shot overnight near an intersection in north Tempe, authorities said.

3 hours ago

US 60/Grand Avenue was temporarily closed on Monday morning in the West Valley following a multi-ve...

KTAR.com

US 60/Grand Avenue temporarily closed after West Valley crash

US 60/Grand Avenue was temporarily closed on Monday morning in the West Valley following a multi-vehicle wreck.

4 hours ago

Arizona State University is moving employees and classes off the Tempe campus until further notice ...

KTAR.com

ASU moving employees, classes off Tempe campus due to cooling issue

Arizona State University is moving employees and classes off the Tempe campus until further notice after a water line failed and caused a cooling issue.

4 hours ago

A motorcyclist died on Saturday, May 18, 2024, after colliding with another vehicle that was attemp...

Nick Borgia

Motorcyclist dies over the weekend after late-night collision in Phoenix

A motorcyclist died over the weekend after colliding with another vehicle that was attempting to make a left turn in Phoenix.

5 hours ago

Sponsored Articles

...

DESERT INSTITUTE FOR SPINE CARE

Desert Institute for Spine Care is the place for weekend warriors to fix their back pain

Spring has sprung and nothing is better than March in Arizona. The temperatures are perfect and with the beautiful weather, Arizona has become a hotbed for hikers, runners, golfers, pickleball players and all types of weekend warriors.

...

Day & Night Air Conditioning, Heating and Plumbing

Day & Night is looking for the oldest AC in the Valley

Does your air conditioner make weird noises or a burning smell when it starts? If so, you may be due for an AC unit replacement.

...

Collins Comfort Masters

Avoid a potential emergency and get your home’s heating and furnace safety checked

With the weather getting colder throughout the Valley, the best time to make sure your heating is all up to date is now. 

Retail center near Glendale Community College sells for $5.5 million