The buyer of Cypress Commons Condominiums is the Poling FamilyTrust, headed by Marty Poling of Thousand Oaks, CA. Doug Fieldingof the Phoenix office of Marcus & Millichap represented buyerand seller, David Sanchez of Bountiful, in the transaction.
The 15-year-old holding is located west of Country Club Drive,between University Drive and Brown Road. Nearby amenities and majorfacilities include Mesa Lutheran Hospital, Mesa Country Club andHohokam Park, where thousands of Cubs' fans flock to for springtraining games.
The Mesa area is one of the Valley's more stable apartmentmarkets, with a vacancy rate of 7.8%, up just one tenth of a pointfrom a year ago. The average rent in Mesa is $652 per month incomparison to the Valley average of $685.
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