04 Feb Triumph Real Estate Investment Has Reached Agreement to Purchase Shopping Center for $7.23M
SCOTTSDALE, AZ, Jan. 29, 2018 — Triumph Real Estate Investment Fund, a Canadian Investment Fund based out of Calgary, Alberta, has reached an agreement to purchase Bell Park Plaza, for $7,230,000.
Bell Park Plaza, a 33,480 square foot shopping center located at the NEC of 43rd Avenue and Bell Road is currently leased at 93%. Notable tenants include Subway, Hobby Bench, Banner Health Urgent Care and Papa John’s Pizza.
“We are very pleased to add another acquisition to our growing portfolio in the Phoenix market,” said David Wallach, President and Founder of Triumph Real Estate Investment Fund.
“This acquisition aligns with Triumph Real Estate Investment Fund fundamentals, acquiring multi-tenant service oriented shopping plazas, our goal to increase our presence in the Phoenix market as well as other states throughout the Central and Western U.S.,” Wallach said.
Triumph Real Estate Investment Fund will purchase Triumph Bell Park Plaza from Hanley Properties V, LLC. Jon Rosenberg and Keri Davies with Levrose Commercial Real Estate/TCN Worldwide negotiated the deal on behalf of the Buyer.
Danielle Davis of Levrose Commercial Real Estate/TCN Worldwide will handle the leasing of the last vacancy at the center, and MODE Commercial Property Management has been selected to manage the property.
About TCN Worldwide
TCN Worldwide, a consortium of leading independent commercial real estate firms, provides complete integrated real estate solutions locally and internationally. With commercial real estate professionals serving more than 200 primary and secondary markets worldwide, TCN Worldwide is one of the most comprehensive service providers in the industry. An extensive range of real estate services coupled with a personal commitment to exceed client expectations is what allows TCN Worldwide to be a leader in the commercial real estate industry.
TCN Worldwide ranks as one of the largest service providers in the industry, consisting of more than 5,000 commercial real estate professionals in 160+ offices across 24 countries, and collectively representing more than $58.6 billion in annual transaction volume.
For more information on TCN Worldwide, contact H. Ross Ford at 972-769-8701 or visit www.TCNWorldwide.com.
About Levrose Commercial Real Estate/TCN Worldwide
Levrose Commercial Real Estate/TCN Worldwide is a market leader in commercial real estate services in the Greater Phoenix metro area. Since 1992, Levrose has been helping clients with every aspect of leasing, buying, selling and managing Commercial properties. With some of the top professionals in the industry, Levrose Commercial Real Estate/TCN Worldwide takes a higher level of accountability for each client. Commercial Property management is handled through affiliate firm MODE Real Estate Management Services. MODE has a unique, professional approach to the management of office, retail and medical properties.
For further information visit: www.levrose.com
About Triumph Real Estate Investment Trust
Triumph Real Estate Investment Trust was created in order to offer investors the opportunity to strategically invest in multi-tenant industrial, retail and office buildings alongside a strong and experienced management team with over 40 years combined experience.
The Trust will focus on identifying undervalued and undermanaged properties located in Ontario, Saskatchewan and Alberta in the Canadian Market, as well as Texas, Arizona, Colorado and California in the U.S.A. Market.
For further information visit: www.triumphref.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/50707e4d-b0d7-4c39-93d1-1da070da8f2a