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7 Arizona grocery-anchored retail centers trade hands in $108.7M sale
Article originally posted in the Phoenix Business Journal on Nov. 5, 2026.
11North Partners, a New York-based investment firm focused on open air retail centers across the United States, made its first acquisition in Arizona by purchasing seven grocery-anchored properties in late October.
All seven of the properties were part of A&C Properties Inc.’s grocery portfolio in Arizona.
In total, 11North spent $108.7 million on 422,949 square feet of retail commercial real estate.
The properties sold included:
- Gilbert Fiesta Marketplace and Shops at Gilbert Fiesta, two adjacent centers on the southeast corner of Gilbert and Williams Field roads in Gilbert
- Township Plaza on the southwest corner of Gilbert and Baseline roads in Gilbert
- Riggs Marketplace in southeast Chandler on the corner of Riggs and McQueen roads
- Lindsay Marketplace on the southwest corner of Broadway and Lindsay roads in Mesa
- Tatum Plaza Shopping Center on the southeast corner of Cave Creek Road and Tatum Blvd. in Cave Creek
- Randolph Plaza, which in in Tucson on 22nd Street near Alvernon Way
All seven of the properties are in high-traffic corridors within their markets and all are anchored or shadow-anchored by Fry’s Food Stores. At the time of purchase, the entire portfolio was 96% occupied.
11North Partners picked these properties in the Valley and in Tucson because they deliver strong cash flow through their grocery-anchored format while offering investors mark-to-market opportunities through tenant curation and lease renewals.
JLL represented the seller, A&C Properties Inc., in the transaction. JLL also arranged $66.36 million in acquisition financing for 11North through Lincoln Financial Group, a leading insurance company.
Find Complete Article Here: https://www.bizjournals.com/phoenix/news/2026/11/05/arizona-grocery-retail-11north-partners-frys-108m.html