Shopping Center in Buckeye
By Champion in : News // Dec 2 2005
Buckeye – A company formed by the Mann family of Carlsberg, Germany (Johannes Mann, et al., principals) plans to develop a shopping center at the northwest corner of Jackrabbit Trail and McDowell Road in Buckeye. The company paid $8.458 million to buy the 32.5-acre parcel. The seller was a company formed by Champion Partners in Scottsdale (Ricky Lyons, CEO). The deal was brokered through Jack Wilson of Grubb & Ellis/BRE Commercial in Phoenix, and Chip Thor and Jon Matthews of RED Realty Advisors in Scottsdale. Sources say the site is suitable for a community shopping center of 330,000 sq. ft. Representatives of the Mann family say the compan is working with Butler Design Group in Phoenix on the centr and expects to have plans finalized in the next six to eight months.
The Mann family has been an active plaer in the Valley real estate market. In March, BREW reported a company formed by the Manns selling the 130,096-square-foot Casa Paloma retail center at southwest corner of 56th Street and Ray Road in Chandler. The buyer in that $41.6 million deal ($320 per foot) was SCI Real Restate Investments in Los Angeles (Bob Robbotti, CEO). In January 2001, BREWBREW reported the Mann family buying two retail plazas in the Valley from Kitchell Development Corp., in Phoenix. The German investors paid just under $14.62 million to acquire 75,000 sq. ft. of retail space at the northeast corner of Camelback and Dysart roads in Litchfield Park. And anothr company formed by the Mann family paid $19.64 million to buy a 95,000-square-foot retail plaza at the southwest corner of 67th Avenue and the Loop 101 in Glendale. One of the primary companies the Mann family operates in the U.S. is Sunbelt Management Co. of Del Ray Beach, Fla. That company also has an office in San Diego, Calif. reported the Manns paying $32.5 millin to purchase Casa Paloma. In 2003,
Sunbelt Management is interested in buying and developing additional retail properties in the Phoenix area. Find out more from Jeff Smith of Sunbelt Management (858) 554-1990. James Lincoln is the president of Champion Partners…reach him and Lyons at (480) 922-9212. Talk to the Grubb & Ellis agents at (602) 954-9000. Thor and Matthews are at (480) 947-7772.
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