"We were awarded the listing after another national firm was unable to fill it. We took the property on and had the buyer targeted within a few months, largely due to our policy of broker cooperation," Mike Day, a senior investment advisor at Sperry Van Ness inPhoenix, tells GlobeSt.com about the shadow space at 1239 E. McKellips Rd. in Mesa. The buyer, McKellips-Stapley Center Inc. of Piedmont, CA, was up against eight competing offers for the 23,790-sf shopping center.
Day confides the buyer assumed a $1.9-million loan with another four years on the term at a 7.32% fixed-rate interest held by Nomura Asset Capital Corp. of New York City. The seller is Community Centers of America-Mesa LLC of Los Angeles.
The Fry's anchor space and a Taco Bell pad site were not part of the transaction. Built in 1996, the just-bought roster includes High Health, Peter Piper Pizza, Tots Unlimited, a dry cleaner and nail salon. The center was 95% leased at sale time.
The Sperry Van Ness seller's team also included Ari Spiro and Jeff Chalfin. David Anton of WPM Properties of Piedmont, CA, represented the buyer.
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