JLL arranges $108.7 million sale of Arizona grocery-anchored retail portfolio
- JLL arranged the $108.7 million sale of the Arizona Grocery Portfolio by A&C Properties to 11North Partners.
- The buyer secured $66.36 million in acquisition financing through a leading insurance company.
- The seven-property, grocery-anchored portfolio spans 422,949 square feet across Phoenix and Tucson, Arizona.
- Occupancy stands at 96%, with Fry's Food & Drug anchoring the portfolio; below-market rents offer potential rental income growth.
- The acquisition marks 11North Partners' first Arizona investment, expanding its necessity-based retail platform into an eighth state.
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