Camelback Center shopping center sold in Phoenix

Camelback Center. (Submitted Photo)

Cushman and Wakefield completed the sale of Camelback Center, a CVS Pharmacy-anchored neighborhood shopping center on the northeast corner of Camelback Road and 16th Street in Phoenix, on behalf of an undisclosed seller.

Michael Hackett and Ryan Schubert of Cushman and Wakefield represented the seller, according to a press release. Perry Investment Trust purchased the property for an undisclosed amount.

Anchored by CVS Pharmacy and Total Wine, Camelback Center is a neighborhood shopping center totaling of 32,963 square feet of retail space on approximately 3.85 acres.

It is now 100 percent occupied with approximately 79 percent national/credit tenants including Chipotle, H&R Block, Massage Envy, European Wax Center and Jimmy Johns.

“The center enjoys an extremely high-quality, institutional-grade tenancy with 84 percent of the property‚Äôs rent roll being in operation at this location for 10 years or more,” Mr. Schubert said in a prepared statement.

“With an outstanding location, visibility and demographics, Camelback Center will continue attracting a large volume of consumers and high-profile tenancy, ensuring success over the long term.”

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