PHOENIX – Cassidy Turley, a leading commercial real estate provider in the U.S., announced that it completed the sale of ±18-acres in the Casa Grande Power Center, Florence Boulevard and Interstate 10 in Casa Grande, Arizona. Wal-Mart Stores, Inc. (NYSE: WMT) purchased the property for an undisclosed price. Cassidy Turley Arizona’s Executive Vice President Mark Bramlett represented the seller, Florence & 1-10, LLC. The buyers represented themselves.
Wal-Mart plans to break ground this summer on a Sam’s Club®, a division of Wal-Mart Stores, Inc. Sam’s Club is the eighth largest retailer and leading membership warehouse club, with over 47 million members in clubs in the U.S., Brazil, China and Mexico. The Casa Grande location will include both the warehouse club and gas station.
“This purchase, by dominant U.S. retailer, is the shot-in-the-arm the I-10/Florence Boulevard commercial corridor needed to drive traffic to the area,” according to Bramlett. “Casa Grande is a great oasis between Phoenix and Tucson.”
Casa Grande Power Center is a 37-acre regional power center whose tenants include Walgreens, Chase Bank and Culvers. The center has 2.5-acres of PADs available on Florence Boulevard for sale or lease, plus additional land to accommodate restaurants and junior anchor users. Cassidy Turley has the marketing assignment for this mixed use development in this Casa Grande Power Center.
The full-diamond interchange at I-10 and Florence Boulevard is the primary retail services area serving Casa Grande and Central Arizona with the total population of +127,033 and an average household income of +$53,643. Across from Casa Grande Power Center is The Promenade Shopping Center whose tenants include Dillard’s, Target, Harkins Theatres, Ross Dress for Less, Kohl’s, Best Buy, JCPenney, Bed Bath and Beyond, Marshalls, Sports Authority and Staples. The Cottonwood Medical Center and Central Arizona College are opposite of the project, on the west side of Interstate 10.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services with local market leader Cassidy Turley Arizona. The company offers brokerage investment and advisory services in office, industrial, retail, multi-family, land and property management. The firm has completed over $10.7 billion in transactions since 2003 and was the No. 1 ranked Commercial Real Estate Brokerage Company in the Phoenix Business Journal’s 2010 and 2012 Book of Lists. For more information on Cassidy Turley Arizona visit www.ctarizona.com or call 602.954.9000.