Cassidy Turley announced that Los Angeles-based FS Tatum Plaza, LLC (Westwood Financial) acquired Tatum Plaza, a 29,460-square-foot neighborhood retail center for $8,000,000 ($270 PSF). The seller was Cave Creek and Tatum, LLC (Park West Partners). Executive Managing Directors Ryan Schubert and Michael Hackett with Cassidy Turley’s Retail Capital Markets Group negotiated the sale transaction.
Located at 29455 N. Cave Creek Road, on the southeast corner of Cave Creek Road and Tatum Boulevard, the retail center was built by Park West Partners in 2007. The Fry’s anchored center (space not included in sale), includes American Family Insurance, Baskin Robbins, Hi Health and Great Clips. The center was 90 percent occupied at the time of sale.