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$525,000 Retail Buy Comes With Upgrade Plan

PHOENIX-IEA Investments Properties, planning to be a hands-on owner, takes over the 8,100-sf shopping center at 3750 W. McDowell Rd. on Phoenix's west side. The upside will come with a facelift to make it more profitable for owner and tenants alike.

By Beverly Ford | Updated on February 11, 2003

PHOENIX-An 8,100-sf shopping center on the city’s west side will get a facelift under its new owner, who purchased the property with a $525,000 offer and a plan to upgrade the struggling retail outlet.

“It took the right kind of buyer to get in there,” Michelle Watson, with Marcus & Millichap tells GlobeSt.com of the 3750 W. McDowell Rd. retail complex. “It took a hands-on buyer to recognize the opportunity because the average buyer wouldn’t.” Watson found that buyer in Ali Ali Sayyed.

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