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Buckeye, Ariz. — Baltimore-based Continental Realty Corp. (CRC) has purchased Sundance Towne Center, a 203,525-square-foot regional power center located 30 miles west of Phoenix, for $54.3 million. Walmart and Lowe’s Home Improvement shadow anchor the center, which was originally developed in 2007 on a 32-acre site. The property was 94 percent leased to tenants including AutoZone, BMO Bank, Cracker Barrel, Dollar Tree, Dunn-Edwards Paints, Mattress Firm and Peter Piper Pizza at the time of sale. CRC also plans to invest in capital improvements to enhance tenancy and customer experience.
Michael Hackett, Jimmy Slusher, Ryan Schubert and Zach Aulick of CBRE represented the seller, Shin Yen Management, in the transaction.