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Goodyear, Ariz. — A joint venture between DRA Advisors and Pine Tree has purchased Palm Valley Pavilions West, a shopping center located in Goodyear, a suburb 20 miles west of Phoenix.
Retail Value Inc. sold the property for $44.7 million. Built in 1994, the 232,577-square-foot property was 98.5 percent leased at the time of sale. Tenants include Ross Dress for Less, Best Buy, Total Wine & More and Ulta Beauty. Pete Bethea, CJ Osbrink, Rob Ippolito and Glenn Rudy of Newmark Knight Frank represented the seller, while the buyer was self-represented in the deal.