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Monday, 18 November 2019

Phoenix-Area Shopping Center Sold for $18.2Mln

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Joseph Felix Realty Co. has paid $18.2 million, or $194.15/sf, for the 93,741-square-foot Lakeview Village at Morrison Ranch retail property in Gilbert, Ariz.

The Denver investment company bought the property, at 99 South Higley Road, from Vestar Capital Partners, which was represented by Cushman & Wakefield.

Vestar had acquired Lakeview Village in 2016 for $18 million. It currently is 98.6 percent leased and anchored by Bashas' Grocery Store. Other tenants include Subway, the UPS Store and Panda Express.

Lakeview Village sits at the corner of Higley and...

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Phoenix
  • States: Arizona
  • Sector: Retail
  • Subject: Property Acquisitions (ACQ)
  • Valuation: Between $10 million and $25 million
  • Private: Yes
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Dan Moynihan

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