The investment group paid $38,392 per unit, or about $56.75 per sf, for the 227,344-sf complex situated at 944 W. Main St. The 19-year-old complex's price is near what most buyers are paying for complexes of that age. The average selling price has been $37,062 per unit or $56.30 per sf for communities built between 1980 and 1984.
The holding is nestled between Alma School Road and County Club Street. It is about three miles north of Superstition Freeway. About four miles south are Mesa Community College, one of the largest community colleges in the country, and Fiesta Mall.
Mesa One Investors Ltd., a partnership led by Ian Griffis and Buck Blessing of Colorado Springs, CO, is the seller. The Phoenix office of CB Richard Ellis, with brokers Todd Braun and Bert Kempfert, negotiated the sale.
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