MESA, AZ-Calgary-based MDC Property Services Ltd. has made its first acquisition in the Phoenix metro area, paying $14.6 million for a 130,642-square-foot Basha’s anchored retail center. The 13-year-old property, Ridgeview Plaza, is located near two prestigious master-planned communities.

MDC Property Services hopes to buy more properties in the Valley, according to Tracy Cartledge, executive vice president of Cassidy Turley BRE Commercial who represented the seller along with Ryan Schubert, Michael Hackett, Bob Buckley and Steve Lindley. Trevor Klinkhamer with Cassidy Turley BRE Commercial’s Office Group represented the buyer.

“They see an opportunity to buy at the bottom of the cycle,” Cartledge tells GlobeSt.com. “They feel there is great value here and that the future growth will eventually solve the current problem.”