Denver-based JFRCO has acquired Lakeview Village at Morrison Ranch in Gilbert, AZ, in a 1031 exchange for $18.2 million from Vestar.

The property is a 93,741-square-foot retail center located at 25 to 125 Higley Road in Gilbert, AZ. The property is approximately 99 percent occupied by tenants including grocery anchor tenant Basha's, Dance Republic, Panda Express, Subway, UPS Store and Edward Jones, among others. It also includes three developable pads.

SRS Real Estate Partners Investment Properties Group SVP John Redfield and Eric Diesch with Pinnacle Real Estate Advisors represented the buyer. The seller, Vestar, was represented by Ryan Schubert and Michael Hackett of Cushman & Wakefield.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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