Cassidy Turley announced it successfully sold Canyon Trails Towne Center, 625 S. Cotton Lane. Trigate Capital (Dallas) purchased the Goodyear power center for $23.5M. The seller was a Vestar formed partnership. Cassidy Turley’s Ryan Schubert, Michael Hackett and Dan Wald negotiated the sale transaction for both parties.
Hackett said, “Canyon Trails Towne Center is a freeway-oriented, regionally-drawing power center which services a growing area in metro Phoenix. With the additional development opportunities at Canyon Trails, the buyer has the potential to grow the center to over 850,000 square feet making this one of the best value add opportunities available.”