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GILBERT, AZ-A 27,687-sf neighborhood center brings $4.2 million in a recent sale in the East Valley town of Gilbert. Bayshore Plaza Investors Inc. of Scottsdale is the buyer; Vestar Development Co., Lee Hanley and Ed Reading, the sellers.

The three-year-old Bayshore Plaza Shopping Center is located at the northwest corner of the intersection of Warner and Cooper roads and is part of a 97,000-sf retail corner developed by Vestar. Carl’s Jr. and Hollywood Video are the lead tenants. The neighborhood center is positioned at the eastern gateway to the 800-acre Islands, a residential development with a population of nearly 5,300.

Ron Barness was the buyer of record for the Scottsdale investment group, represented in the transaction by Barry Light of RBI. Sanford Burstyn of Marcus & Millichap’s Phoenix office, handled talks for the Phoenix-based trio of sellers.

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