COSTARA real estate firm announced the $9.85 million sale of a prominant Phoenix shopping center Wednesday on 32nd Street and Shea Boulevard. The shopping center, called Shea Plaza, is anchored by Basha’s and is 88,985 square feet. The plaza features businesses such as Subway and a Hallmark store.

A real estate firm announced the $9.85 million sale of a prominant Phoenix shopping center Wednesday at 32nd Street and Shea Boulevard.

The 88,985-square-foot shopping center, called Shea Plaza, is anchored by Bashas’ and features businesses such as Subway and a Hallmark store.

The seller, Miami-based Starwood Property Trust, was represented in the transaction by Michael Hackett and Ryan Schubert with Cushman & Wakefield in Phoenix. Imagine Shea LLC, a Phoenix company, was the buyer in the deal.

“Shea Plaza is an infill grocery-anchored asset positioned in an improving Phoenix submarket,” said Mr. Hackett in a statement.

Shea Plaza sits on 7.75 acres and is currently 78.8% occupied by businesses.

“Phoenix shopping center sells for $9.85M” YourValley.net, April 14th, 2021. https://yourvalley.net/stories/phoenix-shopping-center-sells-for-985m,226607