According to CB Richard Ellis first vice president Bob Young,Aspen Baseline 51 LLC of Phoenix built the center at 5020 BaselineRd., with plans for its immediate sale. "They're merchantdevelopers. They keep some things they build, but decided to leasethis up, then sell it," Young says. He and CBRE first vicepresidents Glenn Smigiel and Steve Brabant and vice president RickAbraham brokered the deal.

Young tells GlobeSt.com that the Walker Family Trust of Kent, WAended up with the center through what he calls a "semi off-markettransaction." He explains that the buyer had money from a 1031exchange and approached the CBRE team for investment prospects.Young knew Shoppes at Rogers Ranch was ready to be marketed andsuggested it. "They'd purchased through us before and are anexcellent buyer," Young says. "The seller agreed to the price andknew they'd get the deal done."

Young adds that the center is in an area with many new homes andneighbors a larger shopping center. The just-sold center isanchored by a 13,013-sf CVS Pharmacy, which has a 22-year lease forthe location. Other tenants include AutoZone Inc., Panda RestaurantGroup Inc., Carl Karcher Enterprises Inc., JPMorgan Chase & Co.and a Taco Bell/Long John Silver's combination restaurant.