MESA, AZ-A Mesa couple is banking on the long-term stability of a local shopping center–enough to pay $50,000 more than the asking price. The buyers put down $4.7 million for 30,235 sf of inline space at Stonebridge Center.

Buyers Warren and Carolyn Hall placed the winning offer in the first week of marketing for the inline space at 3614 E. Southern Ave. Eyeing a potential value-add opportunity, the Halls offered $50,000 over the ask to beat out multiple offers on the space, Mindy Korth, a senior vice president in Phoenix for Trammell Crow Co., tells GlobeSt.com. Escrow lasted 45 days. Financing was arranged through Compass Bank of Birmingham, AL.

“He was a 1031 investor and lived in the neighborhood. He was very familiar with the shopping center and it seemed like the perfect fit,” Korth says about the takeover from Regency Retail Group Inc. of Denver.

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