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Sun Valley Plazas Trade Below Market, $4.4M

MESA, AZ-The Beverly Hills, CA investor gets 50,000 sf in two retail centers in separate transactions from a Mesa-based LLC. The Sun Valley Plaza I and II sell for $62 per sf and $69 per sf, respectively.

By Beverly Ford | Updated on January 27, 2003

MESA, AZ-A Beverly Hills, CA investor has taken the keys to two Mesa shopping centers in separate closings for some prime real estate at a value price.

Mansoor Alyeshmerni picked up Sun Valley Plaza I and Sun Valley Plaza II from 74 Main Street LLC of Mesa in separate deals totaling about $4.4 million. The properties abut East Main Street strip malls.

Sanford Burstyn of Marcus & Millichap in Phoenix tells GlobeSt.com that the properties sold for between $62 per sf and $69 per sf, well below other similar properties currently on the market. “It’s pretty hard to find something in that price range,” said Burstyn, noting that currently, he has no other retail listings below the $110 per sf price range.

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