SCOTTSDALE, AZ – Triumph Real Estate Investment Fund, a Canadian Investment Fund based out of Calgary, Alberta, has purchased two Metro Phoenix shopping centers, Triumph Bell West Ranch and Triumph Glendale Crossing, for a total of $7,010,000.
Triumph Bell West Ranch, a 20,225 square foot shopping center at 16846 W. Bell Road in Surprise, AZ, was purchased for $3,985,000. The property, which was 93.2% leased at the time of the sale, is now 100% leased.
Triumph Glendale Crossing, a 10,595 square foot retail center at 5929 W. Peoria Avenue, Glendale, AZ, was purchased for $3,025,000. Tenants include T-Mobile, Western Dental and State Farm Insurance.
“We are very pleased with our recent acquisitions in the Phoenix market,” said David Wallach, President and Founder of Triumph Real Estate Investment Fund.
“Our two retail Centers, Triumph Bell West Ranch & Triumph Glendale Crossing, align with our fund’s fundamentals in buying neighborhood centers with basic services to the residents in those neighboring communities. Our goal is to increase our presence in the Phoenix market as well as other states throughout the Central and Western U.S.,” Wallach said.
Triumph Real Estate Investment Fund purchased Triumph Bell West Ranch from PWREO Bell & 303, LLC, and Triumph Glendale Crossing from Lawrence and Geyser. Jon Rosenberg and Keri Davies with Levrose Commercial Real Estate/TCN Worldwide negotiated both deals on behalf of the Buyer.
Danielle Davis of Levrose Commercial Real Estate/TCN Worldwide will handle the leasing at both properties, and MODE Commercial Property Management has been selected to manage the properties.
TCN Worldwide, a consortium of leading independent commercial real estate firms, provides complete integrated real estate solutions locally and internationally. With commercial real estate professionals serving more than 200 primary and secondary markets worldwide and representing over 80 million square feet of space under management, TCN Worldwide is one of the most comprehensive service providers in the industry. 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 within the commercial real estate industry.
TCN Worldwide ranks as one of the largest service providers in the industry, consisting of more than 5,500 commercial real estate professionals in 173 offices across 25 countries, and collectively representing more than $58.6 billion in annual transaction volume.
For further information on TCN Worldwide, contact H. Ross Ford at 972-769-8701 or visit www.TCNWorldwide.com
Levrose Commercial Real Estate/TCN Worldwide 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 Commercial Real Estate/TCN Worldwide 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
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 40 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 and California in the U.S.A. Market.
For further information visit: www.triumphref.com