Metro Gateway

Location: Phoenix, AZ
Type: Retail
Price: $6,080,000

SMC has provided a $6,080,000 five-year fixed rate mortgage for the acquisition of Metro Gateway, a 65,272 SF, a 73,146 square foot retail shopping center located in Phoenix, AZ, 8.8 miles northwest of the CBD and 16 miles northwest of the Phoenix Sky Harbor International Airport. The property has frontage along West Peoria Avenue, a major east-west commercial corridor that traverses the submarket. The intersection has an average traffic count of 70,000 vehicles daily. The property is located along the Metro Center Corridor, less than one mile west of the Metro Center Mall, which was previously anchored by Sears, Dillard’s, and Macys. The mall is being repositioned and Walmart is constructed a new center on the vacant southern portion of the repositioned asset.