2
Phoenix — Newmark has arranged the $10.3 million sale of Foothill Shopping Center, a 78,186-square-foot shopping center in Phoenix. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the Houston-based seller, SClay Management, which owned the property for nearly 50 years, in the transaction. The buyer was Lena Centers, a Boston-based investment firm that specializes in acquiring community-based grocery-anchored shopping centers across the country.
CNG Ranch Market anchors Foothill Shopping Center, which includes a mix of additional tenants such as Harbor Freight Tools, Sun Star Buffet, H&R Block, TitleMax and Cricket Wireless. The center was built in 1964 and sits on roughly 2 acres, according to LoopNet Inc.