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8/16/16
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Red Mountain Plaza, an 11.3k sf retail property in Mesa, AZ, recently traded in a $2.5 mil ($221/sf) investment buy. The property is located at 1152 N. Power Rd, at the signalized intersection of Brown and Power Roads.
Shortly before the sale, the seller was in a situation where his loan was due soon but there were still a few vacancies left in the plaza that needed to be occupied. However, the property was quickly leased, leaving only one small vacant suite for the new owner.
Beau Flahart of SVN Desert Commercial Advisors represented the seller, Robert Casselman, in the transaction. The buyer was William Kostrivas with G2K2 LLC.
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