MESA, AZ-Mesa Ranch Plaza, a 210,986-square-foot, distressed shopping center has sold for $19.1 million – about $2 million more than expected due to competitive bidders, according to Philip Voorhees, senior vice president with CBRE’s National Retail Investment Group.

Scottsdale, AZ-based Reddy Development purchased the Pro’s Ranch Market-anchored center in an all-cash deal. The firm beat out 28 other bidders to claim the 55% vacant property, Voorhees tells GlobeSt.com.

Voorhees brokered the property on behalf of two banks. He worked with Todd Goodman, Pat Toomey, Megan Read and John Read, along with CBRE’s local Phoenix investment team of Glenn Smigiel, Bob Young, Steve Brabant and Rick Abraham, and retail specialists Kevin Schuck and John Rehling. Bruce Francis and Dana Summers of CBRE Capital Markets in Phoenix represented Reddy Development.