CBRE recently announced the $26 million sale of Mesa Ranch Plaza, a 130,000-square-foot shopping center in Mesa. A private investor, Mesa Ranch 24 LP, acquired the property from SimonCRE.
Alex …
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Real estate
CBRE announces sale of Mesa Ranch Plaza for $26M
CBRE
Mesa Ranch Plaza is at 1008, 1036, 1060 and 1142 E. Southern Ave. in Mesa.
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CBRE recently announced the $26 million sale of Mesa Ranch Plaza, a 130,000-square-foot shopping center in Mesa. A private investor, Mesa Ranch 24 LP, acquired the property from SimonCRE.
Alex Kozakov and Patrick Wade of CBRE’s South Bay Los Angeles office represented the buyer and seller in the transaction. Michael Hackett served as the local market expert on the transaction, according to a release.
“With a 99% occupancy rate and strong tenant base, Mesa Ranch Plaza represents a strategic investment opportunity, in one of the most sought-after retail markets in the U.S.,” Kozakov said. “Our client’s capital investments have transformed this property into a high performing and stabilized asset.”
Mesa Ranch Plaza is at 1008, 1036, 1060 and 1142 E. Southern Ave. It is shadow-anchored by a prominent Hispanic grocer and includes a variety of local, regional and national tenants that offering services such as grocery, fashion, financial, discount, healthcare, soft-good, restaurant and medical.
“Our team marketed Mesa Ranch Plaza in 2021 when it was acquired by SimonCRE,” Wade said. “Following significant capital investments that secured several new, longterm leases, the firm entrusted us with the listing once again, this time to secure a qualified buyer. Prior to the selection of the ultimate buyer, the team’s marketing program resulted in over 10,000 views and 17 offers.”
