A $2.9 million sale of Monterey Vista Village Shopping Center in Chandler, Arizona highlights the transactions from Rein & Grossoehme in Phoenix this week along with multiple retail leases throughout the metro Phoenix area, from Surprise to Mesa.
SALE TRANSACTION
Jared Lively of Rein & Grossoehme represented California-based investor Rosebud Omega, LLC on the $2.9 million ($296 PSF) purchase of 9,794-square-foot retail property, at 980 E. Pecos Rd. in Chandler, Arizona. The property known as Monterey Vista Village was sold at a 7.89% cap rate on 85% Occupancy. The seller was MVV Retail I, LLC. Steve Julius and Jesse Goldsmith of CBRE represented the seller.
LEASE TRANSACTIONS
RETAIL – 14419 W MCDOWELL RD., GOODYEAR, AZ
A lease for 2,621-square-feet in Palm Place Plaza to MBI Urgent Cares, Inc was recently consummated. The location of the property is 14419 W. McDowell Road in Goodyear, AZ. The owner of the center is MB Rentals, LLC. Jared Lively of Rein & Grossoehme CRE represented the Tenant in this transaction.
RETAIL – RED MOUNTAIN PLAZA – 9124E APACHE TRAIL, MESA, AZ
A lease for 1,820-square-feet in Red Mountain Plaza to Third Eye Body Art was recently consummated. The location of the property is 9124 East Apache Trail in Mesa, AZ. The owner of the center is Red Mountain Retail Group. Matt Harper of NAI represented the owner and Jim Edwards of Rein & Grossoehme represented the tenant.
RETAIL – LAVEEN VILLAGE MARKETPLACE SHOPPING CENTER, LAVEEN, AZ
A lease for 1,717-square-feet at the Laveen Village Marketplace Shopping Center to The Neck & Back Clinics was recently consummated. The location of the property is 5270 W. Baseline Rd Suite 150 in Laveen, AZ. The Neck & Back Clinics has 9 other locations. The owner of the center is Litwin Management. Erik Litwin of Litwin Management represented the owner and Jake Ertle of Rein & Grossoehme represented the tenant.
RETAIL – GREENWAY CROSSING, 16630 W GREENWAY RD., SURPRISE, AZ
A lease for 1,357-square-feet in Greenway Crossing to Kustom Kuts was recently consummated. The location of the property is 16630 W. Greenway Rd. in Surprise, AZ. Jim Edwards and Kevin Roessler of Rein & Grossoehme represented the owner.
RETAIL – GC PLAZA, 3601 W CAMELBACK RD., PHOENIX, AZ
A lease renewal for 1,200-square-feet in GC Plaza to Music Store/Discoteca was recently consummated. The location of the property is 3601 W Camelback Rd. in Phoenix, AZ. The owner of the center is JARM, LLC. Nic Chavira of Rein and Grossoehme Commercial Real Estate represented the owner and the tenant.
RETAIL – METRO VILLAGE, 12426-12456 N 28TH SR., PHOENIX, AZ
A lease for 830-square-feet in Metro Village to Certa Pro Painters of Peoria was recently consummated. The location of the property is 12426-12456 N 28th Dr. in Phoenix, AZ. Nic Chavira of Rein and Grossoehme Commercial Real Estate represented the owner and the tenant.
RETAIL - GC PLAZA, 3601 W CAMELBCK RD., PHOENIX, AZ
A lease for 800-square-feet in GC Plaza to Lifestyle Barbershop was recently consummated. The location of the property is 3601 W Camelback Road in Phoenix, AZ. The owner of the center is JARM, LLC. Nic Chavira of Rein and Grossoehme Commercial Real Estate represented the owner and the tenant.