Denver Investor Expands Phoenix Retail Portfolio
JFRCO of Denver acquires Lakeview Village at Morrison Ranch in Gilbert, AZ, in a 1031 exchange.
The property is a 93,741-square-foot retail center located at 25 to 125 Higley Road in Gilbert, AZ. The property is approximately 99 percent occupied by tenants including grocery anchor tenant Basha’s, Dance Republic, Panda Express, Subway, UPS Store and Edward Jones, among others. It also includes three developable pads.
SRS Real Estate Partners Investment Properties Group SVP John Redfield and Eric Diesch with Pinnacle Real Estate Advisors represented the buyer. The seller, Vestar, was represented by Ryan Schubert and Michael Hackett of Cushman & Wakefield.