|
|
3/30/16
|
Progression REI purchased Marketplace at Signal Butte, a 116.4k sf, grocery-anchored community shopping center in the eastern part of Mesa, AZ. Although we don’t have the transaction price, we can tell you Progression financed the purchase with $6.3 mil in acquisition financing.
Anchored by Basha’s, an Arizona grocery store chain, Marketplace at Signal Butte is home to Big 5 Sporting Goods, Denny’s, Dollar General, Golden China, Sunrise Daycare, US Nail Spa, Edward Jones, Papa John's Pizza and H&R Block. The center is situated on 12 acres at the southwest corner of Signal Butte Rd, a north-south artery, and Main St, one of the original east-west corridors in the southeast valley. Just south of Marketplace at Signal Butte is a full-diamond interchange at Signal Butte Rd and I-60, and there are more than 83,000 residents living within a three-mile radius of the center.
Greg Brown of HFF arranged the 10-year, fixed-rate loan for the borrower. It was funded through Wells Fargo Bank.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
