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10/11/22
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A SoCal investor paid $18.9 mil for a 67.7k sf portion of Greenfield Gateway, a 349.1k sf ($279/sf) retail shopping center located at the southwest corner of Greenfield Rd and US Hwy 60 in Mesa, AZ. Greenfield Gateway is co-anchored by Walmart and Sportsman’s Warehouse, both which were not a part of the sale.
The part of the center traded in this deal consists of fully leased buildings on just over 10 acres. They include an EoS Fitness-anchored building and two multi-tenant strip-retail buildings.
Michael Hackett, Ryan Schubert and Chris Hollenbeck with Cushman & Wakefield in Phoenix represented the seller, Greenfield Gateway, LLC, an entity formed by the Hinkson Company, in the transaction.
“This was an attractive investment opportunity of a fully leased shopping center asset with strong tenancy and a tremendous assumable loan in place. The asset further benefits from its synergistic position alongside some of the world’s largest retailers at the center,” said Hackett.
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