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5665 W Bell Rd 61,302 SF 49% Leased Retail Building Glendale, AZ 85308 $12,000,000 ($195.75/SF)
INVESTMENT HIGHLIGHTS
- Exceptional owner/user opportunity with a fully built-out ±31,302 SF trampoline and entertainment operation, including furniture, fixtures, and equipm
- Located in an amenity-rich submarket with numerous nearby hotels, restaurants, and entertainment venues
- Immediate proximity to Arrowhead Towne Center, Peoria Sports Complex, State Farm Stadium, VAI Resort, and Westgate Entertainment District
- Additional income stream from ±30,000 SF leased to an established pickleball operator (The Pickleball Space)
- Just 2 miles from Loop 101, offering convenient access to the entire Phoenix MSA
- Average household income of over $93,000 within a 3-mile radius
EXECUTIVE SUMMARY
Lee & Associates Arizona Commercial Real Estate Services Company (“Exclusive Broker”) is pleased to present for sale Talavi Towne Center II, a ±61,302 square foot retail center situated on 5.67 acres of PAD-zoned land in the heart of Glendale, Arizona (the “Property”).
Ownership has recently completed significant capital improvements, including substantial tenant improvements, restroom renovations, exterior painting, and parking lot sealcoating and striping (completed July 2024).
Approximately ±31,302 square feet can be made available for an owner-user at closing, offering an excellent opportunity for partial occupancy with FF&E’s potentially included. The Pickleball Space (±30,000 square feet) will execute a new lease concurrent with close of escrow, providing immediate rental income - terms subject to negotiation.
In addition to a traditional sale, the seller is open to exploring alternative transaction structures, including the sale of the operating businesses, a joint venture, partnership, or other creative arrangements involving the businesses and/or the real estate. Ownership is willing to consider all viable options with a prospective qualifed buyer.
Ownership has recently completed significant capital improvements, including substantial tenant improvements, restroom renovations, exterior painting, and parking lot sealcoating and striping (completed July 2024).
Approximately ±31,302 square feet can be made available for an owner-user at closing, offering an excellent opportunity for partial occupancy with FF&E’s potentially included. The Pickleball Space (±30,000 square feet) will execute a new lease concurrent with close of escrow, providing immediate rental income - terms subject to negotiation.
In addition to a traditional sale, the seller is open to exploring alternative transaction structures, including the sale of the operating businesses, a joint venture, partnership, or other creative arrangements involving the businesses and/or the real estate. Ownership is willing to consider all viable options with a prospective qualifed buyer.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Department Store
Building Size
61,302 SF
Building Class
B
Year Built/Renovated
1994/1998
Price
$12,000,000
Price Per SF
$195.75
Percent Leased
49%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.25
Lot Size
5.68 AC
Zoning
PAD - Planned Area Development
Parking
291 Spaces (4.56 Spaces per 1,000 SF Leased)
Frontage
770’ on W Bell Rd
AMENITIES
- Air Conditioning
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 200-50-204 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,366,782 |
PROPERTY TAXES
Parcel Number
200-50-204
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,366,782
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5665 W Bell Rd
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