A joint-venture, which includes Kitchell Development Co., aPhoenix-based general contractor and developer, along with De RitoPartners, a Phoenix-based retail brokerage firm, and Toronto-basedEastbourne Investments Ltd., is engaged in negotiations to purchaseChristown Mall in Phoenix.
The 1.2-million-sf mall, built in 1961, is at the southeastcorner of 19th Avenue and Bethany Home Road. The mall is anchoredby Wal-Mart and Montgomery Wards stores, and later this month aCostco Superstore is scheduled to open.
The joint venture is negotiating with Samuel Grossman, formerowner of the Arizona Biltmore Resort, to purchase improvements for$42 million. Grossman leases the land for the mall.
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