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$317 Per SF Wins 9,872-SF Building

MESA, AZ-The brand-new Super Wal-Mart Shops, sitting in the shadow of a super center, sells with a 7.8% cap rate to a California investor with the highest price and best due diligence terms on the table.

By Lee Simmons | Updated on May 12, 2004

MESA, AZ-A California investor has paid slightly more than $3.1 million for the 9,872-sf Super Wal-Mart Shops in Mesa. Fending off healthy competition for the new property, the buyer brought the strongest price and best due diligence terms to the table.

“A lot of interest was generated due to fact that it was a property anchored by a Wal-Mart Supercenter,” Mike Day, an investment adviser with Sperry Van Ness in Phoenix, tells GlobeSt.com. Located at 6005 E. Southern Ave., the 2.8-acre Super Wal-Mart Shops are fully leased to Jackson Hewitt, Advance America, Sunshine Nails and China Star Buffet.

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