PHOENIX-DDR Corp. has bought its partner DRA Advisors Inc.'s ownership stake in Arrowhead Crossing and Tanasbourne Town Center for a total price of $70 million. Arrowhead Crossing located in Phoenix is a 412,000-square-foot retail center built in 1995. The center is 96% occupied with tenants including Staples and Nordstrom Rack.
Tanasbourne Town Center situated in Portland is a 566,000-square-foot retail center opened in 1995. The center is 97% leased to retailers including Target and Nordstrom Rack. For the full story, go to Commercial Property Executive .
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