19TH Avenue & Osborn
CVP acquired this 31,997 square foot neighborhood shopping center in January of 2017 on the southeast corner of 19th Avenue and Osborn Road in Phoenix, Arizona. With a pre-existing tenant relationship, we executed a lease with Dollar Tree prior to closing for half the vacant anchor space. We also received a real estate committee approval from Family Dollar for the other half.
We’ve successfully completed the anchor space redevelopment and our new tenants both opened in September 2017. We are now leasing up the last vacancy to complete our business plan for this asset.
Arcadia Management Group is heading up the property management efforts for the asset and Beau Flahart, Rommie Mojahed, and Eddie Gonzalez of SVN Desert Commercial Advisors lease the project. Tim Storey and Chad Metzger from Newmark Realty Capital brokered the financing with our lender, Western Alliance Bank.