Commercial real estate broker Ian Turner announces Commercial Industrial Arizona Advisors was recently involved in helping a long-time investor acquire a once-thriving retail strip center just south of the Metro Parkway circle.

Turner represented the seller and buyer in the sale of Metro South Shops for $1.18 million, according to a press release.

The property is off 29th Avenue, just south of the entrance into the main entrance, North Metro Parkway, the release states.

“The light rail is going in. just north of Dunlap Ave and a new +200-unit multifamily development is being built just west of the building,” Turner said in a prepared statement.

In late December of last year, news broke that plans for the $750 million redevelopment of the iconic Metrocenter Mall would be one of the largest mall redevelopment projects in Arizona history, according to Concord Wilshire Companies, one of the developers for the project.

In addition to the announcement for redevelopment, light rail infrastructure added to the mix creates a region ripe for reinvestment, Turner contends.

“With the city-approved $150 million light rail project, this will make it easy for people who are gravitating to live and work in the area. Metrocenter will be developed into a residential and mixed-use community,” Turner said. “Though the buyer was looking in other areas around this development, Metro South Shops was the perfect value-add property that would see the great potential and gain extra yield long-term.”

The Metro South Shops is at 9070 N. 29th Ave., adjacent to the anchored retailer, Goodwill Thrift Store. The seller, Jeff Geyser with GM Metro, LLC sold to Neil Mody with Dunlap Commercial, LLC, according to the release.

The approximate 11,000-square-foot building will add another center to the buyer’s investment portfolio, commercial real estate experts say.