Mesa Retail Center Trades for $2.42 Million to Private Investor

PHOENIX, Arizona – CBRE announced the sale of Power Plaza, a 9,500-square-foot retail center located at the northeast corner of Power and Broadway roads in Mesa, Arizona, for $2.42 million.

Cam Stanton, Tim Healy and Mike Sandahl of CBRE represented the seller, Lorne LLC of Tucson, Arizona. The buyer was HSA Development, a private investor completing a 1031 exchange.

Power Plaza is located at 319 S. Power Road. It is 100 percent leased at the time of sale tp various service retailers and restaurants. The retail strip is shadow-anchored by Albertsons.

Power Plaza offers exceptional access with five points of ingress and egress. The property is nearby to the Loop 202 and the U.S. 60 and across the street from Banner Heart Hospital and Banner Baywood Medical Center.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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