AZRE
Real Estate Entrepreneur Michael Pollack ends February with the $9.9 million sale of Bethany Square Shopping Center, a 100,000 square-foot mixed use center located at the northeast corner of 43rd Avenue and Bethany Home Road in Phoenix.
The owner and CEO of Mesa based Pollack Investments purchased the center in 1997 for $2.8 million. At the time the center was at 25-percent occupancy and in need of renovations.
“When we purchased this shopping center, we had several goals. First it was in need of some small cosmetic repairs and secondly, it needed to be brought up to full occupancy,” said Pollack. “I’m proud to say we sold a vibrant and thriving center that is now at 99-percent occupancy and one the neighborhood can be proud of.”
The true mixed use property contains a large school, Goodwill and a combination of office and retail use.
Pollack, who still owns 100 commercial properties, including a Food City anchored shopping center located at Bethany Home Road and 27th Avenue and another center at Bethany Home Road and 59thAvenue, said it was time to move onto a new project.
