Marc Keiman of Phoenix, who owns several other shopping plazas in the area, outbid three other investors to take the keys to the 15410 S. Mountain Parkway center in a deal with seller, Cody Development Corp. of Phoenix, John Werstler, with CB Richard Ellis Inc.'s Phoenix office, tells GlobeSt.com. Built in 2001, the retail center includes restaurants Payton's Place and Shinbay, along with Chi Yoga Institute, Copper Club Tanning and Foothills Sports Medicine and Rehabilitation.
Werstler said the sale of the shopping center, which was on the market about six months, was complicated by an undisclosed problem with an adjacent landowner. He said the center sold quickly after the issue was settled.
Werstler represented the seller in the transaction. Steve Cook from ESCEE Properties of Scottsdale negotiated on the buyer's behalf.
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