LevRose Commercial Real Estate/TCN Worldwide facilitates the sale of Glendale Northwest Shopping Centre for $6.6MM from seller Triumph Real Estate Investment Fund I
PHOENIX, AZ (August 23, 2021) — Triumph Real Estate Investment Fund I (Triumph), a Canadian investment fund based in Calgary, Alberta, is pleased to announce the sale of a Metro Phoenix shopping center “Triumph Glendale Northwest” for $6,600,000.00 in August 2021. This 16,706 sf retail center was originally purchased by Triumph in 2018. The property, which was 100% leased at the time of the sale, has several outstanding tenants, including First Watch Restaurants, One Stop Nutrition and Simple Pure Aromatherapy.
“We are very pleased with this sale as it reflects an excellent return for our Investors,” said David Wallach, President and Founder of Triumph. “The result of the sale demonstrates the success of Triumph’s strategy; purchasing multi-tenant income producing properties and increasing value by increasing rents, leasing vacancies and replacing tenants with stronger tenants. We are working to acquire additional properties in the U.S.A. through Triumph Real Estate Investment Fund II that fit our fundamentals. Our goal within Triumph Real Estate Investment Fund II is to increase our presence in the Phoenix and Denver markets as well as other states throughout the Central and Western U.S.”
Both the purchase in 2018 and sale of the property in 2021 were handled by Keri Davies, Jason Reddington and Jon Rosenberg of LevRose Commercial Real Estate/TCN Worldwide in Scottsdale, AZ.
About TCN Worldwide
An extensive range of real estate services coupled with a personal commitment to exceed client expectations is what allows TCN Worldwide to be a leader in the commercial real estate industry. With over 1,500 commercial real estate professionals serving more than 200 primary and secondary markets worldwide, TCN Worldwide ranks as one of the largest and most comprehensive service providers in the CRE industry.
TCN Worldwide provides complete integrated commercial real estate solutions across North America, Asia, the Middle East, and Australia.
For more information on TCN Worldwide, contact H. Ross Ford at 972-769-8701 or visit www.TCNWorldwide.com
About Levrose Commercial Real Estate/TCN Worldwide
LevRose Commercial Real Estate is a market leader in commercial real estate services in the Greater Phoenix metro area. Since 1992, Levrose has been helping clients with every aspect of leasing, buying, selling and managing Commercial properties. With some of the top professionals in the industry, Levrose takes a higher level of accountability for each client. Commercial Property management is handled through affiliate firm MODE Real Estate Management Services. MODE has a unique, professional approach to the management of office, retail and medical properties.
For further information visit: www.levrose.com
About Triumph Real Estate Investment Trust
Triumph Real Estate Investment Trust was created in order to offer investors the opportunity to strategically invest in multi-tenant industrial, retail and office buildings alongside a strong and experienced management team with over 60 years combined experience.
The Trust will focus on identifying undervalued and undermanaged properties located in Ontario, Saskatchewan and Alberta in the Canadian Market, as well as Texas, Arizona, Colorado, Nevada, Oregon and Washington in the U.S.A. Market.
For further information visit: www.triumphref.com