An entity tracing to On Q Property Management acquired the property at 1011 N. Val Vista Drive, Gilbert, on Oct. 14 for $3.2 million from an entity tracing to Patterson Properties, according to commercial real-estate website vizzda.com.
The sale was made with $640,000 down and $2.56 million in new debt with Western State Bank. The loan has a maturity date of Oct. 13, 2040.
The property is a 15,200-square-feet freestanding retail space in a single-story building built 2000 on 2.34 acres zoned shopping center by the town of Gilbert. It has 90 parking spaces.
