Park Lee Shopping Center

Location: Phoenix, AZ
Type: Retail
Price: $8,000,000

SMC has provided an $8,000,000 five-year fixed rate mortgage for the acquisition of Park Lee Shopping Center, 75,559 SF retail shopping center anchored by Goodwill Industries and Blast! Fitness that is located in Phoenix, AZ, seven miles north of the CBD and 10 miles north of the Phoenix Sky Harbor International Airport. The property is located at the signalized intersection of West Camelback Road and 17th Avenue within the Downtown Phoenix retail submarket. The intersection is highly traveled, with an average daily traffic count of nearly 40,000 vehicles. Camelback Road is a major east-west commercial corridor that traverses the greater Phoenix metro area. The 2015 population within a 1- / 3- / 5-mile radius of the property is 24,822 / 185,332 / 481,462 persons, respectively.