A 4.25-acre commercial property in Gilbert that is proposed for redevelopment as a PopStroke entertainment venue has changed ownership in a transaction valued at approximately $4.82 million, according to commercial real-estate website vizzda.com.
Records show an entity affiliated with Essential Properties acquired the land June 30 from an entity affiliated with LeSueur Investments for $4,823,910, or about $26.06 per square foot. No new debt was recorded as part of the sale.
The transaction coincided with the commencement of a new 20-year lease with PopStroke, effective June 30, 2026, and scheduled to run through June 30, 2046. The lease includes two options for 10-year extensions.
