Kidder Mathews is pleased to announce the sale and property management assignment of Rancho Encanto, a 70,439-square-foot grocery-anchored retail center located at 3434 West Greenway Road in Phoenix, Arizona.
The firm’s brokers Darren Tappen, Nathan Thinnes, Pete Beauchamp, and Patrick Gardner represented both the seller, Dayanim Real Estate Corporation, and the buyer, Junam Enterprises, Inc., in the $10,550,000 transaction. Rancho Encanto’s prime location at the high-visibility intersection of Greenway Road and 35th Avenue, its diverse tenant mix, and minimal competition in the area made it a sought-after investment.
“Rancho Encanto’s excellent positioning and mix of national and boutique tenants made it a standout investment opportunity, generating significant interest from both local and out-of-market buyers,” said Thinnes.
Anchor tenants at the property include Smart & Final and Aaron’s, ensuring consistent foot traffic and positioning the center as a key player in the local retail landscape. The buyer’s intention is to continue to operate the successful center and lease the few remaining vacant suites.
Following the sale, Kidder Mathews has been selected to manage the property on behalf of its new owner, Junam Enterprises, Inc., a prominent real estate investment firm.
“We are thrilled to be working with Junam Enterprises, Inc. to enhance Rancho Encanto’s appeal as a diverse and dynamic retail destination,” said Peggy Maxwell, Senior Vice President and Market Leader for Kidder Mathews Asset Services in Arizona. “Our team is focused on executing strategic improvements that will elevate the property and ensure best-in-class service for both the owner and tenants.”
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages over $10 billion in transaction volume, manages more than 58 million square feet of space, and conducts 2,600 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.