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**Paradise Valley Marketplace Sells for $45 Million**
Tierra Partners has acquired Paradise Valley Marketplace in a $45 million transaction. The retail center, located in Paradise Valley, Arizona, is anchored by Trader Joe’s and also features popular tenants including OHSO Brewery, as well as various retail, beauty, fitness, and dining establishments.
Ryan Schubert and Michael Hackett of CBRE brokered the deal on behalf of the seller, Kite Realty Group Trust (NYSE: KRG).
According to the Phoenix Business Journal, Whole Foods Market closed its location at the shopping center in October 2024. The vacant space will be taken over by Shamrock Foodservice Warehouse, a restaurant supply store offering bulk and wholesale goods to the general public without the need for a membership. Shamrock is expected to open in fall 2026.
With this transaction, Paradise Valley Marketplace is now fully leased.
Tierra Partners also owns the nearby Town & Country shopping center, located at 20th Street and Camelback Road in Phoenix.
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