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ANTHEM, AZ-A Southern California investment group has made its first foray into Arizona, with the $4-million acquisition of Anthem Village Center. Visner Family 2004 Trust has taken control of the 10,580-sf, fully leased center in an all-cash deal, beating out six other offers for the acquisition honor.

Jan Fincham, principal with Phoenix-based Lee & Associates Arizona, says the center at 2411 W. Anthem Way is in a residential area with barriers to entry and a high cash stream. The Walgreens at the hard corner wasn’t part of the deal.

“The buyer was looking for a smaller investment in a protected area, which Anthem is,” says Fincham, who with colleagues Pat Dempsey and Kevin Kopp, represented the buyer and the seller, Palo Roho Investments LLC of Phoenix.

Fincham tells GlobeSt.com that the seller, who had bought the property for $3.3 million in June 2004, sold it to redeploy capital into other larger, regional assets. “The seller had this for about two years. He’d bought it directly from the developer,” Fincham adds. “He just felt it was time to move on to other investments.”

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