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9/25/19
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Fry’s Vineyard Shopping Center, a 78.1k sf Fry’s Food and Drug anchored shopping center in Mesa, AZ, sold for $3.725 mil, or $48/sf.
Fry’s Vineyard is located at 542 west Baseline Rd in Mesa. The adjacent shop building and outparcel building totaling 17.5k sf were included in the sale.
The property was 69% occupied at closing with most tenants of credit and national quality. The property is situated on just over two acres just west of the northwest corner of Country Club & Baseline Roads. The property sits along the borders of Mesa, Gilbert, and Chandler and benefits from proximity to the US-60.
The Country Club & Baseline intersection boasts traffic counts of over 75,000 VPD. The shopping center is home to tenants Fry’s Food and Drug (NAP), The UPS Store, Great Clips, Streets of New York and Subway.
Jan Fincham and Andrew Lundahl of Lee and Associates represented the seller, Barclay Holdings LXV. Sean Bishop, also with Lee, repped the buyer, DL Baseline LLLP.
“Fry’s Vineyard was attractive to many investors because of its strategic location in a densely populated area and it is adjacent to Fry’s Food and Drug, the number one sales volume grocer in Arizona” said Fincham. “The buyer was also attracted to the complementary mix of internet-resistant tenants providing grocery, service, retail, and fast casual dining.”
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