SRS represented both the Seller, Kornwasser Shopping Center Properties and the Buyer, Roebbelen Investors 1, LP, in the investment sale of an 8,400 sq. ft. multi-tenant retail building at SWC Pecos Road and Loop 202 Freeway, Gilbert, Arizona. Located in the premier San Tan Mall trade area, this property, shadow anchored by WinCo Foods, was 100% leased and sold for $3,600,000.00 ($429.00 psf).
“Val Vista Square provided the buyer an excellent opportunity to purchase a new construction, shadow anchored center in an extremely desirable trade area in the Southeast Valley”, stated Ed Beeh, Executive Vice President of SRS.
In previous transactions, SRS brokers represented WinCo Foods on the original acquisition of the site. They represented Kornwasser Shopping Center Properties on the sale of pads to Alliance Bank and Popeye’s Chicken and in the lease-up, and the ultimate sale of the retail shop building.
Jon Cowen, Senior Vice President with SRS represented the Buyer, Roebbelen Investors 1, LP in the transaction.
Ed Beeh, Executive Vice President, Sean Thomas, First Vice President and Brian Polachek, First Vice President with SRS represented the Seller, Kornwasser Shopping Center Properties in the transaction.