Arizona Digital Free Press - Logo

Shoeleather Journalism in the Digital Age

Shoeleather Journalism
in the Digital Age

Cushman & Wakefield brokers $16.4M Red Mountain Plaza sale in Mesa

Situated on about 8 acres, the sale consisted of 69,270 square feet that was 100% leased at the time of sale to a complementary tenant mix with Michaels and PetSmart leading the tenant roster. (File Photos/DigitalFreePress.com)
Cushman & Wakefield: Washington investor acquires Mesa shopping center
Staff Reports | Digital Free Press

Cushman & Wakefield brokered the recent sale of Red Mountain Plaza, which is a 69,270-square-foot, Home Depot shadow-anchored retail shopping center found at the northwest corner of Power Road and McKellips Road in Mesa.

Situated on about 8 acres, the sale consisted of 69,270 square feet that was 100% leased at the time of sale to a complementary tenant mix with Michaels and PetSmart leading the tenant roster, according to a press release.

The asset was sold to Red Mountain Plaza, a Washington LLC, for $16.4 million. The seller was HJ Red Mountain, LLC, an entity formed by Jakosky Properties, the release states.

Ryan Schubert and Michael Hackett with Cushman & Wakefield in Phoenix represented the seller in the transaction.

“This was an attractive investment opportunity of a fully leased shopping center with strong tenancy and a tremendous assumable loan in place,” said Executive Managing Director Ryan Schubert. “The asset further benefits from its synergistic position with Home Depot anchoring the shopping center.”

Print Friendly, PDF & Email

Category Sponsor

Learn About the Author

Published On:

Category Sponsor

Chamber Supplier

Newsletter Sign Up

Scottsdale Daily Beat - Logo

Could we interest you in Local News That Matters? How about Enterprise Business Reporting & Real Property & Homes?

OSR Free press cube
Honor Run Sponsor AD (336 x 280 in)
SUSD

Scottsdale

Paradise Valley

SUSD Showcase
Real Property & Homes img