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PHOENIX-Following a 30-day marketing period that brought out an abundance of offers, the 8,360-sf 27th Thomas Shopping Center has been sold to an exchange buyer for the ask of $2.6 million.The 100% occupied property, located at 2775 W. Thomas Rd., has tenants including Subway, Check Advance, HILTI Inc. and Express Personnel Services.According to Scottsdale-based BPI Group’s Heidi Meyers, the buyer, R.E. Holdings LLC in Phoenix had sold the 64,094-sf Arden Square shopping center at 48th and Main streets in Mesa to provide funding for the acquisition of the 27th Thomas Shopping Center, which was constructed in 2004.”This was a quick close, and he was an experienced buyer,” says Meyers, an investment sales associate, who represented the seller, 27th Thomas Investors LLC of Scottsdale. Meyers tells that the buyer was also willing to pay full provide for the property.”The seller was the developer,” she notes, adding that he has other properties on the market as well. These include the 8,064-sf 19th Ave. & Southern at 1810 W. Southern Ave. and the 4,390-sf 91st Ave. and Camelback, both of which are in Phoenix; and the 5,060-sf 51st. Ave. & Olive, located in Glendale.Jeff Chalfin of Sperry Van Ness’ Phoenix office represented the buyer. BPI has been retained to handle leasing and management activities on the property.

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