NEC Southern & Val Vista, Mesa, AZ

12 months later
Price $4,700,000 $6,550,000
Size 30,235 SF
Price per SF $155 $217
Cap Rate 8.13 (A) 6.62 (A)
Occupancy 76% 85%
Year Built 2000

(A) = Cap rate based on actual income at stated occupancy

Shadow anchored shopping center on both sides of a Safeway. I successfully represented the buyer in the first transaction in a very competitive environment with over ten offers. The buyer followed my bidding instructions and got the deal. I relisted the center for sale and it closed escrow 12 months later to take advantage of capital gains treatment. I was instrumental in helping the buyer make a quick $1,850,000.