Pioneer Happy Valley I LLC purchased the Lowe’s Home Improvement ground lease at 25311 N. Lake Pleasant Pky in Peoria, AZ from Cypress Lake Pleasant LP for $8.7 million.
The property is located in the Lake Pleasant Crossing shopping center, which is part of the Surprise / North Peoria Retail submarket. The 13.67-acre parcel is improved with a 169,592-square-foot freestanding retail building.
Alfred Hackbarth of SRS Real Estate Partners represented the seller. Chad Tiedeman of Phoenix Commercial Advisors represented the buyer.