Commercial parcels sold in Mesa, Gilbert - East Valley Tribune: Business

Commercial parcels sold in Mesa, Gilbert

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Posted: Thursday, December 22, 2011 6:54 pm

Two newer commercial parcels in the East Valley have been sold.

Pioneer Plaza, in the 600 block of East Main Street in Mesa, was sold to private investors Dickinson-Phoenix 1 for $845,000. The seller was Pacific Coast Banker’s Bank. The plaza was built in 2006 and had five of its seven retail units under lease at the time of sale.

Also, Higley Village, a 44,484-square-foot plaza, was sold for $3.75 million. Queen Creek investor Jorde Hacienda Inc. bought the plaza from Meridian Bank. The plaza at the southeast corner of Higley and Queen Creek roads in Gilbert is roughly split between office and retail space. The office portion is 80 percent leased, while the retail is only 31 percent leased. The property includes areas for a future two-story office building and a convenience store with a fast-food restaurant.

Cassidy Turley BRE Commercial represented the sellers in both transactions. 

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