The sale of Lindsay Corners, a 25,181-square-foot shopping center built in 1987 was recently recorded. The location of the property is the NWC of Main & Lindsay in Mesa, Arizona. The property sold to Sayaco Partnerships from Los Angeles, CA as part of a 1031 exchange. The seller was Genesis Lindsay and Main LLC. The sales price was $1,235,000, which equates to $49 per-square-foot. The building was 73% occupied at closing. The buyer plans to remodel and re-lease the center.
Mark Rein of Rein & Grossoehme represented the seller and Case Reimus of Sperry Van Ness in Grand Rapids, MI represented the buyer. Mark Rein specializes in the sale of shopping centers and has sold 89 such properties over the years.
Founded in 1993 and celebrating our 20th anniversary, Rein & Grossoehme specializes in the sale of investment properties and retail, office and industrial leasing.
Rein should be reached at (480) 214.9414 and Reimus can be contacted at (616) 949.6168 for more information.