Mesa, AZ – Michael Pollack, President of Michael A. Pollack Real Estate Investments just sold Sun Valley Plaza today (Monday, Dec. 16th) in Mesa. The sale closed at $6,360,000 million.
President Darryl Senger of Sun Valley Plaza Holdings Inc. purchased the center located at 7246-7336 E. Main St. Mesa, AZ 85207.
The center was 94,094-square-feet in size when he sold it. The Shopping Center contains popular stores and attractions like Denim Diamonds, Main Street Antique Mall, Carbajal’s Mexican Restaurant and several other retailers. It was 96% Tenant Occupied at the close of sale today.
Pollack bought the center in 2004 for $3.1 million and started renovating it in 2005. Back then the stores were boarded up and it was not in great shape. He put an excess of $1 million into the renovations over the years and owned it for 15 years.
He says the timing was right to sell. The center is healthy and in a good position financially. He said it’s time to put his money into another project that he can buy and renovate, once again making the community and neighbors proud.