70-Acre Development Site in Mesa Sells

The buyer plans to build retail, high-density residential, office, medical and hospitality on the site.

Mesa-based Bela Flor has acquired a 70-acre development site in Mesa, Arizona, for $12.7 million from an entity of Prudential. The buyer plans to build retail, high-density residential, office, medical and hospitality on the site.

Located at NWC of Signal Butte Road and US 60, the property was originally slated for a Target development with a mix of retail pads and small shops, but has since been repositioned for mixed-use. It includes a half-mile of US 60 frontage with a full diamond interchange.

Brent Moser and Mike Sutton, principals at Lee & Associates handled the transaction on behalf of the seller.