---
title: "Sell a Shopping Center in Arizona | PCA"
url: "https://newphoenixcommercialadvisors.com/sell-shopping-center-arizona/"
description: "For owners: how a shopping center sale runs in Arizona, what drives the value of a multi-tenant retail property, what buyers ask for"
publisher: "Phoenix Commercial Advisors"
generated: "11/15/2026"
date: "11/15/2026"
---

# How do I sell a shopping center in Arizona?

If you own a shopping center or other multi-tenant retail property in Arizona, the Phoenix Commercial Advisors investment sales team can value it, market it to qualified buyers and run the offer, escrow and closing. 9 of the 20 investment offerings on the market with the team now are multi-tenant.

## The short answer

A shopping center in Arizona can be listed by any licensed commercial real estate broker, and there is no official ranking of the firms that sell them. This page states what Phoenix Commercial Advisors (PCA) does for an owner who wants to sell. PCA is a retail-only commercial real estate brokerage in Phoenix, founded in 1996. Its [investment sales team](https://newphoenixcommercialadvisors.com/services/investment-sales/) sells neighborhood, community, grocery-anchored and power centers, and also single-tenant net lease property.

If the property has one tenant, the [net lease sellers page](https://newphoenixcommercialadvisors.com/sell-net-lease-property-arizona/) is the closer fit.

## How a shopping center sale runs

1. **A broker opinion of value.** A written estimate of the price range the center is likely to sell for. It is not an appraisal, and it does not commit you to anything. Start at [What is my property worth?](https://newphoenixcommercialadvisors.com/sell/property-value/). That page does not show a price.
2. **A listing agreement.** If you decide to go ahead, the price, the marketing period and the fee are agreed in writing before the property is offered.
3. **The offering package.** An offering memorandum, the rent roll, the leases and the operating statements, assembled so a buyer can underwrite quickly.
4. **Marketing.** PCA markets investment property to a national buyer database, and also works with buyers on a 1031 exchange timeline. The listing appears on [investment sales](https://newphoenixcommercialadvisors.com/properties/investment-sales/) with its public facts; documents go only to people who ask.
5. **Offers and a letter of intent.** The team presents offers, advises on terms and negotiates the letter of intent.
6. **Purchase agreement and due diligence.** The buyer reviews the leases, financials, title and the property. The length of this period is set in the contract.
7. **Escrow and closing.** The team manages the process through to the close.

## What drives the value of a shopping center

A multi-tenant property is valued on its income and on how durable that income is. A broker opinion of value looks at:

- **The rent roll.** Who the tenants are, what each pays, and when each lease expires.
- **Occupancy and rollover.** Vacant space, and how much of the income comes up for renewal in the next few years.
- **The anchor and the tenant mix.** A grocery anchor, a shadow anchor and shop tenants are different credits to a buyer.
- **The leases.** How expenses are passed through, and any options, exclusives or co-tenancy clauses.
- **The location and the buildings.** Traffic, trade area, age and condition.
- **Comparable sales** of similar property.

A cap rate is the annual net operating income divided by the price. The [cap rates page](https://newphoenixcommercialadvisors.com/cap-rates-arizona-net-lease/) explains what the figure does and does not tell you.

## What buyers ask for, and who sees it

A buyer of a shopping center asks for the offering memorandum first, then the rent roll, the leases, the operating statements and the expense reconciliations, and later estoppels, title and environmental reports. Offering documents are never posted on the open web. On a PCA listing they sit in a document vault with four access levels, from open to broker approval, so the seller controls who sees a rent roll. Every request is recorded, and PCA can export the record of who asked for what, and when, for a seller.

## What can be checked

- **Current book.** 20 investment offerings are listed as of 11/15/2026; 9 of them are multi-tenant.
- **Published pricing.** Of the 17 current investment offerings that publish a cap rate, the published rates run from 4.65% to 7.00%. These are asking figures.
- **Volume.** Over $2.5 billion of retail investment property sold across 430+ closings, as the firm reports.
- **Closed sales.** Closed deals are searchable in the [closings database](https://newphoenixcommercialadvisors.com/track-record/closings/), and closings the firm has announced are on the [closing announcements](https://newphoenixcommercialadvisors.com/news/closings/) page.
- **Focus.** A retail-only brokerage since 1996.

## Leasing before a sale

Some owners lease vacant space before they sell. The firm's retail leasing team handles that work; see [shopping center leasing](https://newphoenixcommercialadvisors.com/shopping-center-leasing-phoenix/).

## Start

Start at [What is my property worth?](https://newphoenixcommercialadvisors.com/sell/property-value/), or [contact the office](https://newphoenixcommercialadvisors.com/contact/) and choose Owner considering a sale, or call 602-957-9800. A broker from the [investment sales team](https://newphoenixcommercialadvisors.com/team/) replies.

## Every current investment offering

| Property | City | Type | Size | Price or rate | Brokers |
|---|---|---|---|---|---|
| [Tutor Time](https://newphoenixcommercialadvisors.com/properties/tutor-time-anthem/) (Anthem Way & I-17 / NEC) | Anthem | Sale, Freestanding buildings | 11,752 SF | $4,500,000 | Isaiah Clayton, Chad Tiedeman |
| [Icons Sports Grill](https://newphoenixcommercialadvisors.com/properties/icons-sports-grill-gilbert/) (McQueen Rd & Elliot Rd / SEC) | Gilbert | Sale, Restaurant | 6,105 SF | $1,620,000, 6.00% cap | Isaiah Clayton, Chad Tiedeman |
| [Angie's Prime Grill](https://newphoenixcommercialadvisors.com/properties/angies-prime-grill-prescott-valley/) (State Route 69 & Stoneridge Dr / SWC) | Prescott Valley | Sale, Freestanding buildings | 1,045 SF | $2,632,000, 5.70% cap | Danny Gardiner, Chad Tiedeman |
| [Shops at Gilbert Town Square](https://newphoenixcommercialadvisors.com/properties/shops-at-gilbert-town-square-gilbert/) (Gilbert Rd & Warner Rd / SWC) | Gilbert | Sale, Neighborhood Center | 37,613 SF | $9,675,000, 7.00% cap | John Schweikert |
| [Chipotle](https://newphoenixcommercialadvisors.com/properties/chipotle-gilbert/) (Power Rd & Germann Rd / SWC) | Gilbert | Sale, Freestanding buildings | 2,325 SF | $3,900,000, 4.65% cap | Chad Tiedeman |
| [Senor Taco](https://newphoenixcommercialadvisors.com/properties/senor-taco-chandler/) (Dobson Rd & Warner Rd / NWC) | Chandler | Sale, Restaurant | 2,768 SF | $2,609,000, 5.75% cap | Danny Gardiner, Isaiah Clayton |
| [South Mountain Plaza](https://newphoenixcommercialadvisors.com/properties/south-mountain-plaza-phoenix/) (16th St & Southern Ave / SWC) | Phoenix | Sale, Neighborhood Center | 26,341 SF | $8,036,000, 6.85% cap | John Schweikert, Chad Tiedeman |
| [Speedway Shops](https://newphoenixcommercialadvisors.com/properties/speedway-shops-tucson/) (Tucson Blvd & Speedway Blvd / NEC) | Tucson | Sale, Street retail | 7,917 SF | $3,331,000, 6.25% cap | John Schweikert, Chad Tiedeman |
| [Pointe 17](https://newphoenixcommercialadvisors.com/properties/pointe-17-phoenix/) (29th Ave & Dove Valley Rd / SWC) | Phoenix | Sale, Strip Center | 28,961 SF | $21,598,000, 6.00% cap | Danny Gardiner, Chad Tiedeman |
| [Edison Pointe](https://newphoenixcommercialadvisors.com/properties/edison-pointe-maricopa/) (John Wayne Pkwy & Edison Rd / NEC) | Maricopa | Sale, Community Center | 28,052 SF | Call for pricing | John Schweikert, Chad Tiedeman |
| [Shops at Royal Palms](https://newphoenixcommercialadvisors.com/properties/shops-at-royal-palms-mesa/) (Stapley Dr & McKellips Rd / SEC) | Mesa | Sale, Neighborhood Center | 34,229 SF | $9,999,500, 6.27% cap | Isaiah Clayton, Danny Gardiner, Chad Tiedeman |
| [Tempe Crossing](https://newphoenixcommercialadvisors.com/properties/tempe-crossing-tempe/) (Priest Dr & Ray Rd / NEC) | Tempe | Sale, Freestanding buildings | 5,634 SF | $4,280,000, 5.20% cap | Isaiah Clayton, Chad Tiedeman |
| [Signal Butte & Elliot Shops](https://newphoenixcommercialadvisors.com/properties/signal-butte-and-elliot-shops-mesa/) (Signal Butte Rd & Elliot Rd / NWC) | Mesa | Sale, Retail pads | 7,746 SF | $6,170,000, 6.20% cap | Danny Gardiner, Chad Tiedeman |
| [Mountain Vista Plaza](https://newphoenixcommercialadvisors.com/properties/mountain-vista-plaza-surprise/) (Reems Rd & Bell Rd / SWC) | Surprise | Sale, Neighborhood Center | 64,101 SF | $19,435,000, 6.75% cap | Danny Gardiner, Chad Tiedeman |
| [El Mirage Rd & Vistancia Blvd / NWC](https://newphoenixcommercialadvisors.com/properties/el-mirage-rd-and-vistancia-blvd-peoria-2/) | Peoria | Sale, Retail pads | 8,069 SF | Call for pricing | Isaiah Clayton |
| [Fresenius Medical Care](https://newphoenixcommercialadvisors.com/properties/fresenius-medical-care-tucson/) (6th Ave & I-10 / NNWC) | Tucson | Sale, Freestanding buildings | 9,369 SF | $2,912,000, 6.50% cap | Danny Gardiner, Chad Tiedeman |
| [Crossroads at Tolleson](https://newphoenixcommercialadvisors.com/properties/crossroads-at-tolleson-tolleson/) (99th Ave & McDowell Rd / SEC) | Tolleson | Sale, Community Center | 98,343 SF | $36,950,000, 6.54% cap | Danny Gardiner, Steven Underwood, Chad Tiedeman |
| [Mattress Firm](https://newphoenixcommercialadvisors.com/properties/mattress-firm-tucson/) (Oracle Rd & Ina Rd / NWC) | Tucson | Sale, Freestanding buildings | 3,500 SF | $2,940,000, 5.50% cap | Chad Tiedeman |
| [Black Rock Coffee](https://newphoenixcommercialadvisors.com/properties/black-rock-coffee-colorado-springs/) (Fillmore St & Sage St) | Colorado Springs | Sale, Freestanding buildings | 735 SF | $2,695,500, 5.75% cap | Isaiah Clayton, Chad Tiedeman |
| [AutoZone](https://newphoenixcommercialadvisors.com/properties/autozone-fountain/) (Mesa Ridge Pkwy & Syracuse St / SEC) | Fountain | Sale, Freestanding buildings | 7,382 SF | $2,395,000, 4.80% cap | Isaiah Clayton, Chad Tiedeman |


## Investment offerings on the market (20)

- [Tutor Time](https://newphoenixcommercialadvisors.com/properties/tutor-time-anthem.md): Anthem Way & I-17 | NEC; 3720 W Anthem Way; Anthem, AZ; investment sale; 11,752 SF; $4,500,000; brokers: Isaiah Clayton, Chad Tiedeman; page: https://newphoenixcommercialadvisors.com/properties/tutor-time-anthem/
- [Icons Sports Grill](https://newphoenixcommercialadvisors.com/properties/icons-sports-grill-gilbert.md): McQueen Rd & Elliot Rd | SEC; 1475 W Elliot Rd; Gilbert, AZ; investment sale; 6,105 SF; $1,620,000; 6.00% cap; brokers: Isaiah Clayton, Chad Tiedeman; page: https://newphoenixcommercialadvisors.com/properties/icons-sports-grill-gilbert/
- [Angie's Prime Grill](https://newphoenixcommercialadvisors.com/properties/angies-prime-grill-prescott-valley.md): State Route 69 & Stoneridge Dr | SWC; 5875 E State Route 69 Hwy; Prescott Valley, AZ; investment sale; 1,045 SF; $2,632,000; 5.70% cap; brokers: Danny Gardiner, Chad Tiedeman; page: https://newphoenixcommercialadvisors.com/properties/angies-prime-grill-prescott-valley/
- [Shops at Gilbert Town Square](https://newphoenixcommercialadvisors.com/properties/shops-at-gilbert-town-square-gilbert.md): Gilbert Rd & Warner Rd | SWC; 1166 South Gilbert Road; Gilbert, AZ; investment sale; 37,613 SF; $9,675,000; 7.00% cap; brokers: John Schweikert; page: https://newphoenixcommercialadvisors.com/properties/shops-at-gilbert-town-square-gilbert/
- [Chipotle](https://newphoenixcommercialadvisors.com/properties/chipotle-gilbert.md): Power Rd & Germann Rd | SWC; 4733 East Germann Road; Gilbert, AZ; investment sale; 2,325 SF; $3,900,000; 4.65% cap; brokers: Chad Tiedeman; page: https://newphoenixcommercialadvisors.com/properties/chipotle-gilbert/
- [Senor Taco](https://newphoenixcommercialadvisors.com/properties/senor-taco-chandler.md): Dobson Rd & Warner Rd | NWC; 2070 N Dobson Rd; Chandler, AZ; investment sale; 2,768 SF; $2,609,000; 5.75% cap; brokers: Danny Gardiner, Isaiah Clayton; page: https://newphoenixcommercialadvisors.com/properties/senor-taco-chandler/

All: https://newphoenixcommercialadvisors.com/properties/investment-sales/ and https://newphoenixcommercialadvisors.com/api/listings.json

## Brokers who sell investment property

- Chad Tiedeman, Executive Managing Director: https://newphoenixcommercialadvisors.com/team/chad-tiedeman/
- Steven Underwood, Senior Managing Director: https://newphoenixcommercialadvisors.com/team/steven-underwood/
- John Schweikert, Senior Managing Director: https://newphoenixcommercialadvisors.com/team/john-schweikert/
- Danny Gardiner, Senior Managing Director: https://newphoenixcommercialadvisors.com/team/danny-gardiner/
- Isaiah Clayton, Director: https://newphoenixcommercialadvisors.com/team/isaiah-clayton/

## Who to contact

- Chad Tiedeman, Executive Managing Director, leads investment sales at Phoenix Commercial Advisors. He joined the firm in 2005 and works with buyers and sellers of grocery-anchored and multi-tenant neighborhood centers and single-tenant net lease property. Direct line 602-288-3472. Profile: https://newphoenixcommercialadvisors.com/team/chad-tiedeman/.

## Related pages

- [Retail leasing brokers in Phoenix](https://newphoenixcommercialadvisors.com/retail-leasing-brokers-phoenix/)
- [Retail investment sales brokers in Arizona](https://newphoenixcommercialadvisors.com/retail-investment-sales-brokers-arizona/)
- [Sell a net lease property in Arizona](https://newphoenixcommercialadvisors.com/sell-net-lease-property-arizona/)
- [Net lease investment sales in Arizona: the properties for buyers](https://newphoenixcommercialadvisors.com/net-lease-investment-sales/)
- [Investment Studio: 1031 timeline, replacement sets and net lease calculator](https://newphoenixcommercialadvisors.com/tools/investment-studio/)
- [Tenant representation](https://newphoenixcommercialadvisors.com/services/tenant-representation/)
- [Landlord representation and development brokerage](https://newphoenixcommercialadvisors.com/services/landlord-representation/)
- [Investment sales](https://newphoenixcommercialadvisors.com/services/investment-sales/)
- [All current availabilities](https://newphoenixcommercialadvisors.com/properties/)
- [The team](https://newphoenixcommercialadvisors.com/team/)

## Frequently asked questions

### How do I sell a shopping center in Arizona?

The usual path is a broker opinion of value, a listing agreement, an offering memorandum and a document set, marketing to qualified buyers, offers and a letter of intent, a purchase agreement with a due diligence period, and escrow through closing. The Phoenix Commercial Advisors investment sales team handles each step for a seller. To start, use the form at /sell/property-value/ or call 602-957-9800. The property value page does not show a price.

### Who sells shopping centers in Arizona?

Several firms do, and no independent body ranks them. Phoenix Commercial Advisors is a retail-only brokerage in Phoenix whose investment sales team sells neighborhood, community, grocery-anchored and power centers as well as single-tenant net lease property. The firm reports over $2.5 billion of retail investment property sold across 430+ closings.

### What is my shopping center worth?

A broker opinion of value gives a written price range built from the rent roll, the leases, the operating statements, the anchor and the tenant mix, the location and comparable sales. It is not an appraisal, and asking for one does not commit an owner to a listing. Ask the investment sales team through /sell/property-value/ or /contact/, or at 602-957-9800.

### What cap rate will a shopping center sell at?

This page does not quote a market cap rate, because the only rates the firm publishes are the asking rates on its current listings. Of the 17 current investment offerings that publish a cap rate, the published rates run from 4.65% to 7.00%. Those are asking figures across every kind of investment offering, not sale prices, and a rate on one center says little about another with different leases.

### How long does it take to sell a shopping center?

There is no fixed number, and this page does not quote an average because the firm does not publish one. The timeline is set by pricing against the market, the leases in place, the buyer's financing and the due diligence period written into the purchase agreement.

### What will a buyer ask to see?

The offering memorandum first, then the rent roll, the leases, operating statements and expense reconciliations, and later estoppels, title and environmental reports. On Phoenix Commercial Advisors listings these are held in a document vault with four access levels, from open to broker approval, so a seller controls who sees a rent roll and every request is recorded.