Business Real Estate Weekly by Rose Law Group
Goodyear – A company formed by Haagen Co. LLC in Los Angeles, Calif. (Alexander Haagen, III., principal) paid $44.5 million ($137.32 per foot) to purchase a 324,068-square-foot power center retail development in Goodyear. The 31.41-acre project, called Goodyear Centerpointe, is located along the north side of Interstate 10 at the southeast corner of McDowell Road and Pebble Creek Parkway. The seller was Evergreen-McDowell & Pebble Creek LLC, a company formed by Evergreen Devco Inc. in Phoenix (Bruce Pomeroy, Andy Skipper, et al., principals). The deal was brokered by Reza Etaldi of REZA Investment Group Inc. in Irvine, Calif. The acquisition did not include the land underneath the power center. The parcel is on a 99-year ground lease with Cardinal Capital Co. in Phoenix. The eight-building property has addresses ranging from 15222-15475 W. McDowell Road. The shopping center is 98 percent leased. Major tenants include: Toys R Us, Babies R Us, BevMo, Sport Chalet, Conn’s HomePlus and Party City.
