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Val Vista shopping center sold
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Val Vista Towne Center, a 93,000-square-foot shopping center at the southwest corner of Val Vista and Warner roads in Gilbert, has been sold for $13.2 million to a Canadian investment group.
The North American Development Group of Markham, Ontario, has an office in Scottsdale. It purchased the property from Weingarten Realty Investors of Houston. Tenants include Target, Staples and other stores that have bucked economic trends at that location by increasing sales year over year, according to broker Bob Young of CB Richard Ellis, broker of the sale. The center is 96 percent leased.
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