August 12, 2021 (Glendale, AZ) – LevRose Commercial Real Estate is pleased to announce the sale of a Metro Phoenix shopping center “Triumph Glendale Northwest” for $6,600,000.00 in August 2021.
This 16,706 sf retail center was originally purchased in 2018 by Triumph Real Estate Investment Fund I (Triumph), a Canadian investment fund based in Calgary, Alberta. The property, which was 100% leased at the time of the sale, has several outstanding tenants, including First Watch Restaurants, One Stop Nutrition and Simple Pure Aromatherapy.
“We are very pleased with this sale as it reflects an excellent return for our Investors,” said David Wallach, President and Founder of Triumph. “The result of the sale, demonstrates the success of Triumph’s strategy, purchasing multi-tenant income producing properties and increase value by increasing rents, lease vacancies and replace tenants with stronger tenants. We are working to acquire additional properties in the U.S.A. through Triumph Real Estate Investment Fund II that fit our fundamentals. Our goal within Triumph Real Estate Investment Fund II is to increase our presence in the Phoenix and Denver markets as well as other states throughout the Central and Western U.S.”
Both the purchase in 2018 and sale of the property in 2021 were handled by Keri Davies, Jason Reddington and Jon Rosenberg of LevRose Commercial Real Estate in Scottsdale, AZ.
