CBRE has recently completed the sale of The Village at Augusta Ranch. The Albertson’s-shadow-anchored, 25,214-sq.-ft. retail shopping center is located at 9221-9202 E. Baseline Road in Mesa, Arizona. The buyer was Sperry Equities, LLC. The seller was Gilligan Augusta Ranch, LLC. Jesse Goldsmith and Steve Julius with CBRE’s Phoenix office represented both the seller and buyer in the transaction. Total consideration for the deal was $6.95 million.
“Augusta Ranch will prove to be a great long-term purchase for Sperry Equities. The property has been meticulously maintained and managed by the seller,” said CBRE’s Goldsmith. “The Albertson’s is a high-volume location that will continue to support the rents shadow space tenants are achieving.”
Originally constructed in 2000, The Village at Augusta Ranch is located in a dense but growing neighborhood with strong economic fundamentals. The property offers citywide accessibility thanks to the shopping center’s direct proximity to the U.S. 60 and Loop 202 freeways. A diverse mix of national and local retail tenants, as well as the presence of a busy Albertson’s grocery store, help ensure consistent foot traffic.