"It's the type of project that takes local ownership andmanagement and local leasing. It's not the kind of property thatyou just put in your portfolio," Michael Pollack, president ofMichael A. Pollack Real Estate Investments, tells GlobeSt.com. Hebought the asset at 7246 E. Main St. from New Plan Excel RealtyTrust Inc. of New York City.

The off-market transaction was sparked when Pollack approachedthe previous owner with an offer to purchase and turnaround theproperty. Interior and exterior upgrades could wrap in as soon as90 days. "It looked tired. It looked antiquated. It needed a realcommitment and a local presence," Pollack explains.

Sun Valley Plaza West was built in 1989 on 12 acres. Rents arecheap by Mesa standards--$10 per sf for smaller strip space and $6per sf for big-box space. The center includes a vacant 5,000-sf padsite. Tenants include Family Dollar, Waldenbooks and Peter PiperPizza.