The sale of Copper Bell Plaza, a 16,141-square-foot shopping center built in 1980 was recently recorded. The location of the property is the northeast corner of Southern & Stapley in Mesa, Arizona. The property sold to Stapley & Southern Partners LLC of Mesa, AZ. The seller was Higley Road LLC of Phoenix, AZ. The sales price was $1.2 million which equates to $74.34 per square foot. The building was 27% occupied at closing. There was also 2.95 acres of excess land included in the sale.
Mark Rein of Rein & Grossoehme represented the buyer and the seller in this transaction.
The sale of Carrabba’s Italian Grill, a 7,500-square-foot freestanding pad building built in 2005 was recently recorded. The location of the property is the northeast corner Interstate 40 & Highway 15, Durham, North Carolina. The property sold to Coachella Associates, a California limited partnership. The seller was Hugh & Sarah Ashcroft of Charlotte, NC. The sales price was $1.8 million which equates to $240 per square foot. The building was 100% occupied at closing.
Mark Rein of Rein & Grossoehme represented the buyer and Sam Young of Cassidy Turley represented the seller. Mark Rein specializes in the sale of shopping centers and has sold 92 such properties over the years.
To learn more Rein should be reached at (480) 214.9400.