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Talavi Towne Center Sold for $21.9M in Glendale

Kimco Sells 118,000-SF Retail Center
March 5, 2018
Kimco Realty Corp., a NJ-based REIT that owns and operates more than 492 shopping centers across the U.S., sold the 118,377-square-foot Talavi Towne Center in Glendale, AZ to a private investor for $21.9 million, or approximately $185 per square foot.

The shopping center at 5715-5795 W. Bell Rd. is anchored by Walmart, Michael’s and MOR Furniture for Less. Additional tenants include Dollar Tree, Chennai Café, Cricket Wireless and Tokyo Lobby.

Jan Fincham and Patrick Dempsey, both principals at Lee & Associates, represented the seller, which bought the retail complex in November 2007 for $12.5 million, according to CoStar data.

“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,” said Dempsey.

For more information on this transaction, please refer to CoStar COMPS #4151447.
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