GILBERT, AZ-Newport Beach, California-based Mark IV Capital Inc. has acquired Crossroads Towne Center, 147,200-square-foot center situated at the southeast corner of Germann and Gilbert roads in Gilbert, for $19.1 million. The shopping center was sold by Phoenix-based Vestar Development Co.
The sales price breaks down to about $129.75 per square foot. The center, constructed in 2007, is 100% leased and is anchored by Hobby Lobby and T.J. Maxx. Phoenix Commercial Advisors' Steven Underwood and Chad Tiedeman represented both parties in the deal. For the full story, go to Phoenix Business Journal .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.