Shopping Center Trades for $3.35M in Revitalized Fiesta District in Mesa

Grove Towne Center, a 22,224 SF shopping center at 1130 W.
Grove Ave., Mesa, in the revitalized Fiesta District sold for $3,350,000 or $150.74
per SF.
Sean Bishop, Principal with Lee & Associates brokered the transaction on
behalf of the buyer, Grove Arizona, LLC, Calabasas, CA. Barbara Lloyd and Lane
Neville of NAI Horizon, negotiated for the seller, Grove Towne Center, LLLP,
Lone Tree, CO.
Built in 2005, the single-level, multi-tenant strip center features abundant
parking and is close to Mesa Community College, Banner Desert Medical
Center, Fiesta Mall and other large employers. It is two blocks north of the
Superstition Freeway (U.S. 60) and near a major bus line on Alma School Rd.
Tenants include The Draft, Barro’s Pizza and Ike’s.
Lee & Associates was retained by the new owners to lease space.

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