GOODYEAR, AZ (3TV/CBS 5) — The Canyon Trails Towne Center has sold for $41 million. The 90-acre shopping center near the Loop 303 will be put to use as a mixed-use destination for everyone, from new shopping stores to restaurants and even a physical therapy clinic.
David Malin, lead consultant for TriGate Capital, said “The momentum created by securing the multi-family component changed the narrative for the center and allowed us to ramp up our leasing efforts. By the middle of 2022, with the help of SRS we achieved 100% occupancy in the ‘shops district’ and signed transactions with nine (9) new pad users.”
The buyer is the Santa Cruz Seaside Company which says they plan to add a specialty grocer, large format retailers, more restaurants, and a hotel in the future. Malin says there are plans to go vertical with some of the buildings as well.
“With the great anchors, shops, and pads, yet so much room for new development and ways to attract new users to the center, the property [Canyon Trails] received a high amount of interest from investors and developers,” said Broker Steve Julius of Newmark, Inc. “The new owners and their team will continue to ride the momentum of the growth of Goodyear.”
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