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Hockey Team Owner Scores $55.3-Mil Dual Retail Center Sales

PHOENIX-San Diego's Price Enterprises has acquired two retail centers in Mesa and Tempe in a $55.3-million deal cut with Phoenix Coyotes' owner Ellman Cos. Not only is it a good time to sell, but two Glendale projects are keeping the firm busy.

By D.J. Burrough | Updated on July 16, 2001

PHOENIX-Ellman Cos., the new majority owner of the National Hockey League Phoenix Coyotes, has sold two retail centers in the Valley to a San Diego-based real estate investment company for $55.3 million.

The 706,000-sf Mesa Pavilions in Mesa has brought about $31.4 million and the 465,000-sf The Groves in Tempe has gone for $23.9 million. San Diego-based Price Enterprises Inc. is the buyer.

Mesa Pavilions is located at the northeast corner of Power Road and Superstition Freeway. It is anchored by a Kmart, Target, Costco, Michael’s, Circuit City and Staples, and had been fully leased at sale time.

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