Greenway Promenade

Greenway Promenade is located in the city of Glendale, north of the historic downtown area. The property is within the Arrowhead submarket, which has seen positive growth over the last decade. Offering road frontage along both Greenway Road and 59th Avenue, as well as close proximity to the I-17, 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), 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 vacancies represent several unique opportunities within the center. Suite 2 totals ±2,272 of leasable space on the eastern side of the property near 59th Ave. While Suite 10 is suitable for smaller operators, at ±964 SF. Suites 19, 20/21 represent a combined ±2,897 SF of space on the western side of the complex near the Greenway Rd entrance. Suites 20 and 21 are currently combined with a shared wall to suite 19, providing the remainder of the available space.