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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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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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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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