#United States #Phoenix #TSMC #EvCap Investments #Point Acquisitions

EvCap Investments and Point Acquisitions Acquire North Phoenix Retail Center

On August 26, 2026, EvCap Investments and Point Acquisitions made headlines with their announcement of the acquisition of a 66,000 square foot retail center located at 711 E. Carefree Highway in Phoenix, Arizona. This noteworthy transaction, which closed in late May 2026, involves a value-add property approximately 27% vacant, presenting the ownership group with the chance to reposition and stabilize the asset through diligent management and strategic leasing efforts.

Situated along the burgeoning Carefree Highway corridor, the retail center is strategically positioned near the expanding TSMC semiconductor manufacturing campus. This significant development, coupled with the surge in residential and employment growth, is set to drive increased demand for retail services in the surrounding area. As part of their acquisition strategy, the ownership team is excited about the potential this property holds in light of the ongoing transformation and economic activity in North Phoenix.

Ben Udell, Vice President of Investments at EvCap Investments, expressed enthusiasm about adding this property to their portfolio, highlighting it as a prime example of their strategic focus on well-located assets with value-add potential in dynamic markets. He stated, "With strategic capital improvements and an aggressive new leasing program, we see substantial opportunity to enhance the property's appeal and performance."

Point Acquisitions' President, Jesse Shemesh, noted the significance of this investment, describing it as a rare opportunity to acquire an off-market value-add center in an emerging submarket that is seeing rapid growth. The ownership plans to implement a hands-on management approach, aimed at stabilizing occupancy and improving both the tenant mix and overall performance of the center. By doing so, they aim to better serve the surrounding community and meet the demand born from the region's ongoing expansion.

Critically, this acquisition reflects the broader trends in commercial real estate, especially within the North Phoenix market, where rising employment opportunities and residential developments are reshaping the retail landscape. The ongoing expansion related to TSMC is anticipated to further solidify demand for retail and services, making this acquisition timely and strategically significant.

About EvCap Investments, established in 2010, the firm specializes in joint venture equity partnerships focused on net-lease acquisitions, redevelopments, and ground-up projects in various sectors, including retail, healthcare, and education. For inquiries regarding EvCap Investments and this acquisition, Ben Udell can be contacted at [email protected]

In contrast, Point Acquisitions, founded in 2018, focuses on acquiring retail and industrial properties throughout the United States. The company leverages its proprietary technology platform to identify off-market opportunities and has successfully completed over $150 million in transactions to date. Those interested in selling commercial properties discreetly can visit www.pointacquisitions.com for more information.

This acquisition not only signifies a strategic move for both firms but also underlines the opportunities present within the North Phoenix market, promising a bright future for the retail center and its surrounding community.