# CenterCal Enters Arizona with $117M Retail Deal

> CenterCal acquires Phoenix shopping center for $116.7m in Arizona's tight retail market.
- Title: CenterCal Enters Arizona with $117M Retail Deal | Shortify
- Summary: CenterCal acquires Phoenix shopping center for $116.7m in Arizona's tight retail market.
- Keywords: centercal, phoenix, retail acquisition, park west, harkins theatres, athleta, club pilates, massage envy, bj's restaurant, flemings, wells fargo, 261100 square feet
- Source: The Real Deal — https://therealdeal.com/national/phoenix/2026/11/12/centercal-breaks-into-arizona-with-phoenix-area-retail-buy
- Author: TRD Staff
- Published: 2026-11-12T18:00:00+00:00
- Read time: 1 min
- Topics: centercal, phoenix, retail acquisition, park west, harkins theatres, athleta, club pilates, massage envy, bj's restaurant, flemings, wells fargo, 261100 square feet
## CenterCal Acquires Phoenix Property
CenterCal Properties bought a 45-acre shopping center in Peoria for $116.7 million, marking its first Arizona property in a tight retail market.
## Property Details and Tenants
The shopping center spans 19 parcels with tenants including Harkins Theatres, Athleta, Club Pilates, Massage Envy, BJ’s Restaurant & Brewhouse, and Fleming’s.
## Financing and Market Context
CenterCal secured $86.9 million in loans from Wells Fargo and the Phoenix retail vacancy rate dropped to 4.4 percent in Q3.
## Key takeaway

CenterCal Properties bought a 45-acre Phoenix shopping center for $116.7m, marking its first Arizona property in a market with shrinking retail vacancies.