Marketplace Development LLC is the buyer of record for theMarketplace at 1440 S. Country Club Drive in Mesa. SellerSchmid-Moulton Parkway is selling off some Arizona investments andre-investing in properties closer to his home port, Shari Tucker ofSperry Van Ness Mullin tells GlobeSt.com. "We got a great price onit," she says. "It is a nice well-run center and a greatlocation."

The center fetched $2.8 million even though it has a 15,000-sfvacant block. The spot had housed a Harkins Theater. "People justdon't buy shopping centers with 15,000 sf vacant. That's a 40%vacancy at the Marketplace," Tucker said. But, the businessman did.He thought he had a tenant lined up, but the lease fell through yetthe closing proceeded as planned, according to Tucker. The newowner holds the deeds to a handful of other Valley retail sites,including several jewelry stores.

The Marketplace is located right off the Superstition Freewayand positioned near Mesa's regional hospital. As a result, severalcenter tenants are medical-related operations.