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Kiowa Village Closes for $3.1M

April 15, 2011 by Nick Miner, CCIM   No comments   Filed Under: Completed Transactions

Mesa – AT Kinetic Kiowa AZ, LLC a venture between Kinetic Companies (Joel Moyes, Jeff Hawke Principals) and Arciterra both of Phoenix, paid $3.1 million ($67.93 per foot) to buy a 46,595-square-foot retail building located at 2235 S. Power Road in Mesa. The Seller was Kizer 5, LLC out of New Mexico (William Kizer, Principal). The seller was represented by Jeff Murtaugh of Northpoint Asset Management in Tucson. The buyer was represented by Nick Miner, CCIM of Commercial Properties Inc. in Phoenix. The previous owner lost the asset through foreclosure. The center was 41% occupied at the time of close. The center, called Kiowa Village, was built in 2006. Kinetic is looking for additional income-producing real estate assets in the valley.

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Nick Miner, CCIM

ORION Investment Real Estate
7150 E. Camelback Road
Suite 425
Scottsdale, AZ 85251

480-226-8037
nick@nickminer.com

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