Allard Developments Buys Arcadia Fiesta Retail Center in Phoenix for $41.6 Million

Phoenix — An entity formed by Allard Developments has purchased Arcadia Fiesta, a shopping center located at the southwest corner of 32nd Street and Indian School Road in Phoenix. An entity formed by a joint venture between DeRito Partners and Van Tuyl Cos. sold the asset for $41.6 million. The 154,436-square-foot center was fully leased at the time of sale. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the seller in the transaction.

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