TEMPE, AZ-Kimco Realty Corp., a REIT based in New York, has paid $10.5 million to buy College Park Center, a Whole Foods-anchored shopping center located at 5114 to 5158 S. Rural Road in Tempe. CP Shopping Center II LLC and College Park Shopping Center LLC were the sellers of the property. Brent Mallonee, Cliff Johnston, Michael Hackett and Ryan Schubert of Cassidy Turley negotiated the deal on behalf of the sellers.
The retail center was 98% leased at the time of acquisition. For the full story, go to Phoenix Business Journal .
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