By Rose Law Group Reporter
Mesa, Arizona – Dobson Palm Plaza Retail Shops sold today for $2,425,000 or $153 per square foot. The 15,900 square foot property was fully occupied at close of escrow. Derek Buescher of ORION Investment Real Estate represented the Seller and the Buyer. The Seller was TMSGuadalupe Dobson Center, LLC. The Buyer was B&B Real Estate Holdings, LLC.
Dobson Palm Plaza Retail Shops were constructed in 1981 and are fully leased to Rositas Mexican Food, Amici Pizza, and NFP Insurance, among a few other tenants. The property is shadowanchored by Goodwill and shares the lot with a Circle K on the southwest corner of Dobson and Guadalupe Roads, which see an average of 50,954 vehicles per day at the intersection. The location offers easy access to the Loop-101, the US-60, and SR-87 – all within a short two minute drive. Also just a few minutes away, the Fiesta District, including new corporate offices, Banner Desert Medical, and Mesa Community College, offers a solid customer base for the center. The area has a high daytime population of over 700,000 people within five miles of the subject. There’s an above average household income of approx. $84,000 within one mile of the subject.
Derek Buescher commented on the transaction, “Dobson Palm Plaza was fully occupied located on the east side of the property with tenants that have been at the location for a number of years. This is a strong and stable property the new buyer was excited to purchase.”
Dobson Palm Plaza has another strip of retail shops to the west of the Goodwill Anchor, which is ideal for owner/users or value-add investors, that is still available. Contact Derek Buescher at 480.689.4146 for more information.