Phoenix, Arizona – CBRE announced the sale of Power Plaza, a 9,500-square-foot retail center located at the northeast corner of Power and Broadway roads in Mesa, Arizona, for $2.42 million ($255 PSF).
Cam Stanton, Tim Healy and Mike Sandahl of CBRE represented the seller, Lorne LLC of Tucson, Arizona. The buyer was HSA Development, a private investor completing a 1031 exchange.
Power Plaza is located at 319 S. Power Road. It is 100 percent leased at the time of sale to various service retailers and restaurants. The retail strip is shadow-anchored by Albertsons.
Power Plaza offers exceptional access with five points of ingress and egress. The property is nearby to the Loop 202 and the U.S. 60 and across the street from Banner Heart Hospital and Banner Baywood Medical Center.
For additional information, Stanton can be reached at 602.735.5545, Healy is in the CBRE Tucson office and can be contacted at 520 323 5119. Mike Sandahl has recently retired and is enjoying the good life after real estate.