Cushman & Wakefield Negotiates Sale to California Investor

PHOENIX, November 9, 2015 – Cushman & Wakefield, a global leader in commercial real estate services, announced today that Madison Plaza 1, LLC, an entity formed by a California investor, purchased Camelback Crossing for $14.5 million.  The Seller was Nevada Holding Co., L.P., a Delaware Company. Executive Managing Directors Ryan Schubert and Michael Hackett of Cushman & Wakefield negotiated the sale on behalf of the seller.

Cback CrossingBuilt in 2003, Camelback Crossing contains 94,156 square feet of Class A retail space and is currently 93.3% leased. Anchored by Bashas’ grocery store and Walgreens drug store, Camelback Crossing also features a variety of nationally and regionally recognized retailers. The center is located at 5115 N. Dysart Rd. in Litchfield Park, AZ, and is adjacent to the prestigious Wigwam Resort & Spa and within close proximity to Luke Air Force base.

“The West Phoenix market continues to expand, and Camelback Crossing is ideally located to service the growing population with a strong mix of daily needs tenants,” said Mr. Schubert. “Additionally, the property offers tremendous upside potential with future development opportunities for the pad sites.”

The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.