PHOENIX—Highlands Village Equities, LLC (a company formed by Glenwood Development Company) purchased The Shoppes at Highlands Village, a grocery-anchored neighborhood shopping center at 1145 North Ellsworth Rd. in Mesa. The 87,486 square foot center was bought for $10.05 million from Donahue Schriber Realty Group. Cassidy Turley negotiated the deal.
Cassidy Turley executive managing directors Ryan Schubert, Michael Hackett, Dan Wald and Matt Kircher negotiated the transaction.
“The Shoppes at Highlands Village received tremendous interest from the market and ended up being a perfect fit for Mesa-based Glenwood Development Company,” Schubert says. “Glenwood was attracted to the quality of the bricks and mortar, the long-term lease with Bashas' and the significant upside in nearly 16,000 square feet of vacant shop space. Further, the demographics of this submarket within Mesa present a bright future for the property.”
Located on 9.4 acres on the southeast corner of Ellsworth and Brown roads, The Shoppes at Highlands Village is anchored by Bashas' grocery store and supported by national retailers including Chase Bank, Subway and Fantastic Sam's. Developed in 2004 by Donahue Schriber Realty Group, the property is located one mile east of the Loop 202 Freeway.
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