Mesa South Center Receives $8 Million Acquisition Financing for Retail Center in Mesa, Arizona

by Hayden Spiess

Mesa, Ariz. — An entity doing business as Mesa South Center LP has received $8 million in financing for the acquisition of Mesa South Shopping Center, a 133,663-square-foot retail center located in Mesa. The borrower purchased the property for $15 million. Tenants at the center, which was 85.3 percent leased at the time of sale, include Big 5 Sporting Goods, Harbor Freight Tools and Dollar Tree. The property was originally built in the 1980s but has undergone renovation, including recent capital investments to the parking lot. Shaun Moothart, Bruce Francis, Bob Ybarra, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE secured the 10-year loan through a correspondent life insurance company on behalf of the borrower. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the seller in the sale transaction, and Maha Odeh-Arnold of Regal Properties represented Mesa South Center LP.

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