PHOENIX-A recently developed retail building in west Phoenix has fetched about $1.4 million from private investor, Betty Carroll of Grover Beach, CA.

The 6,300-sf structure is located at 3540 W. Camelback Rd. and is occupied by a Blockbuster Video store and Papa John’s pizza restaurant. The sale price equates to more than $214 per sf. Preferred Retail Store Developers, based in Austin, TX, is the seller of the site at the northwest corner of 35th Avenue and Camelback, adjacent to the Grand Canyon University and within blocks of Alhambra High School. The intersection is within a mile of the border to Glendale, which is one of the fastest growing suburbs in the Valley. The Austin-based development firm had constructed the building in 2000.

The Phoenix office of CB Richard Ellis, with brokers Steve Fernandez and Jenifer Davis, have represented the seller in the transaction. Broker Byron Grant of South County Realty in Arroyo Grande, CA, has acted on the buyer’s behalf.

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