Clearview Commons, Superstition Springs Commerce Center sold for $14.7M

Independent Newsmedia
Posted 10/29/19

Two Mesa multitenant industrial properties --- Clearview Commons and the Superstition Springs Commerce Center ---were sold by Holualoa Companies after making major capital improvements to their roofs, …

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Clearview Commons, Superstition Springs Commerce Center sold for $14.7M

Posted

Two Mesa multitenant industrial properties --- Clearview Commons and the Superstition Springs Commerce Center --- were sold by Holualoa Companies after making improvements to their roofs, parking lots, exteriors and tenant spaces. The properties are near East Southern Avenue and South Clearview Avenue in Mesa.

Part of an ongoing strategy to purchase small-bay industrial properties and convert them into thriving economic contributors, Holualoa first purchased the Clearview property in 2013, when it was 65% occupied. This week, the property sold 100% occupancy for $5,825,000. Holualoa purchased the second Mesa property, Superstition Springs Commerce Center, in 2014, when it had 60% occupancy, and it, too, sold at 100% occupancy for a total of $8,875,000.

“We appreciate that Kootenay Holding recognized the value in what we’ve done with these spaces, and we’re immensely proud of the progress we’ve made at the sites since we purchased them years ago,” Stan Shafer, chief operating officer for Holualoa Companies, said in the release. “With a low cost of living, a high quality of life and a surging reputation as a center of commerce and innovation, this is an area poised for monumental growth, and we’re honored to have a hand in helping Mesa continue to diversify its economy and expand its employment and other opportunities for area residents.”

Holualoa Companies was represented in the sale by Steve Lindley and Tracy Cartledge of Cushman & Wakefield.

The centrally located properties sit within a half-mile of the U.S. 60 Superstition Freeway and sold together as a portfolio. Together, the properties have industrial, retail and showroom tenants, many of whom operate within the industrial supply, home furnishings, construction, professional services, fitness and craft-brewing industries, the release states.

Go to holualoa.com.

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