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**Mountain Ranch Marketplace in Goodyear, AZ Sells for $23 Million**
Hanley Investment Real Estate Advisors has completed the $23 million sale of Mountain Ranch Marketplace, a 49,683-square-foot neighborhood shopping center located in Goodyear, a suburb of Phoenix, Arizona. While a Safeway grocery store is located adjacent to the property, it was not included in the transaction. The site also offers two developable land pads for future expansion.
Currently 94.6% leased, the center features a diverse tenant mix including AutoZone, Phoenix Children’s Academy, Starbucks, Papa John’s Pizza, Subway, and Leslie’s Swimming Pool Supplies.
The buyer, Bershon Realty Company, was represented by Hanley’s Bill Asher, Jeremy McChesney, and Lee Csenar. The seller, Kitchell Development Company, was represented by CBRE brokers Ryan Schubert, Michael Hackett, and Zach Aulick.
Hanley played a key role in helping Bershon Realty secure this grocery-shadow-anchored shopping center to satisfy a 1031 exchange requirement.
Mountain Ranch Marketplace was originally built in 2009 and underwent renovations in 2024.
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