Reliance Commercial Real Estate announced the closing of Kiowa Village. The property, located at 2235 S. Power Road in Mesa, AZ sold for $7,850,000 or $171 per square foot in the off-market transaction.
The two buildings, totaling 45,855 square feet, were 93.7 percent leased with a mix of local and national tenants, including Bahama Buck’s, Weight Watchers, and Rosati’s Pizza. Jake Danovic of Reliance represented Eleven Investments in the sale and sourced the out of state buyer for their first acquisition in the Phoenix MSA. Danovic also represent Eleven Investments in the acquisition and lease up of the asset.