Phoenix, AZ
CBRE Arranges $26 Million in Financing for Retail Center
October 31, 2022
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CBRE has secured a $26 million loan to acquire Laveen Park Place, 17.5 acres retail center in Laveen, Ariz., from Kitchell Corporation.
Garrett Stasand, with CBRE Capital Markets' Debt and Structured Finance team in Phoenix, secured the financing on behalf of the buyer, Tradewinds Captial LP, an international finance firm.
Laveen Park Place is located on the southeast corner of Loop 202 and Baseline Road and has over 109,000-sq.-ft. of retail space. Sprout anchors the complex with neighbors Michaels and TJ Maxx to the South and Starbucks and Verizon to the Northeast. The recently completed center still has two lots open for construction.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.