PHOENIX (July 17, 2012) – SRS Real Estate Partners is pleased to announce the sale of Baseline Village (formerly Laveen Village Center), a 99,648-square-foot neighborhood center located at the northwest corner of 35th Avenue and Baseline Road in Phoenix, Ariz. Construction was completed in 2010 with three anchor spaces comprising 15,342, 24,958 and 25,120-square-feet. The center sold with an in-place occupancy of 6.34% and offers the new owner a significant value-add opportunity.
The property was purchased by Verus Partners, LLC, a local Arizona investment company with extensive market knowledge and experience. Alfred Hackbarth, Ed Beeh, and Robbie Petty with SRS Real Estate Partners along with Amr Ceran of Voit Real Estate Services represented the seller, Laveen Village Center Acquisitions, LLC, in the transaction.