Greenway Promenade Listing Details & Market Data

Greenway Promenade is located in the city of Glendale, north of the historic downtown area. The property is located in the Arrowhead sub-market which has seen positive growth over the last decade. The property offers road frontage along both Greenway Road and 59th Avenue, as well as a close proximity to Interstate 17, as well as the US-60 and Loop-101 freeways. Popular attractions around the property include Arizona State University West Campus, Grand Canyon University, Glendale Community College, shops at Arrowhead Towne Center, and Peoria Sports Complex (P83) which is home to spring training for the Seattle Mariners and San Diego Padres.SVN Desert Commercial Advisors, as the exclusive representative of the Seller, is pleased to offer for sale Greenway Promenade, a stabilized neighborhood retail center in the west valley. While the center is currently 95% occupied the properties' average per square foot rental rate is 20% below the market average. The property also includes two separate, fully leased out freestanding buildings that could be sold after acquisition and additionally, the forecasted rental increase of $52,863 in 2020, represents a 6.2% improvement from the previous year. Combine these with the strong fundamentals of the Arrowhead Ranch Submarket, the areas projected growth and the properties proximity to various universities and it is easy to see why Greenway Promenade is the perfect property for any owner.SVN Desert Commercial Advisors, on behalf of the Owner is pleased to offer for lease the last remaining vacancies at Greenway Promenade. The two total vacancies represent a unique opportunity within the center. Suite 1A and Suite 2 represent a combined 4,859 SF of leasable space on the eastern side of the property near 59th Ave. The suites currently have a pass through cut between them but could easily be divided should it be necessary. Suite 15, which sits in the geographic middle of the center represents 6,180 SF of leasable space which does not include the exterior back patio space .