Encino, CA-based Ethan Christopher LLC took ownership of theBashas-anchored center at 731-751 E. Union Hills Dr. from CovingtonAsset Management of Scottsdale, which had repositioned the plazaafter its former anchor, Mega Foods, went out of business. "It'spretty rare in today's market to acquire a property that includesthe anchor," Steve Lindley, a vice president here for Dallas-basedTrammell Crow Co., tells GlobeSt.com, noting that traditionally,shopping center sales normally include just the plaza's shadowspace. "An anchored shopping plaza is a hot commodity in today'smarket."

The 105,389-sf plaza at the intersection of 7th Street and UnionHills Drive in North Phoenix drew interest from at least threeprospective buyers during its three months on the market, Lindleysays, but Ethan Christopher LLC came up with the best offer. Thecenter is home to a Dairy Queen, Bridgestone/Firestone tire storeand several small businesses.

It was the third metro-area acquisition for the Californiapartnership, which also recently purchased the Grandview ShoppingCenter, a 90,849-sf plaza at 5802 W. Camelback Rd. and the91,573-sf Cactus Crossing Shopping Center at 67th Avenue and CactusRoad, both in Glendale. The investment group also owns severalmedical buildings in Southern California.

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