MESA, AZ-M&I Regional Properties LLC, based in Milwaukee, sold 19.5 acres in what is known as Riverview Point, a 250-acre, mixed-use development. The buyer involved in the $2.72 million short sale was Montana Avenue Capital LLC of Los Angeles.
David Carder and Luke Walker of CBRE represented the seller of the shovel-ready land at the southwest corner of Alma School Road and Bass Pro Drive. “The entitled and improved land site provided MAC an opportunity to get into the market quickly and take advantage of its recovery,” says Carder in a press release about the sale. Plans call for MAC to sell the improved lots for development and pursue build-to-suit opportunities.
Riverview Point is located where the borders of Mesa, Tempe and Scottsdale intersect. The development sits just east of the Loop 101 and 202 freeways and in proximity to US 60.
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