Mesa, Ariz. — Desert Troon Cos. has sold Superstition Gateway Shopping Center, a 495,000-square-foot retail power center located in Mesa, for $121 million. Situated on 65.7 acres at the southwest corner of US-60 and Signal Butte Road, the center was constructed in 2006 and 2012 and comprises 19 individual parcels. Current tenants at the property — which was 90 percent leased at the time of sale — include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress For Less, Marshalls, Five Below, PetSmart, Panera Bread, KFC, In-N-Out Burger and Chili’s Grill & Bar.
Jan Fincham, Mike Sutton and Brent Moser of Lee & Associates Arizona represented the seller in the off-market transaction. The seller was part of the original development partnership that built the shopping center almost 20 years ago. A Southern California-based family office was the buyer.