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Recker Brown Center Closed – $1,450,000

January 8, 2012 by Nick Miner, CCIM   No comments   Filed Under: Completed Transactions

 

Mesa – Kinetic Companies (Joel Moyes / Jeff Hawke, Principals) of Phoenix, paid $1.45 million ($27.23 per foot) to buy a 53,245-square-foot retail building located at 1135 N. Recker Road in Mesa. The Seller was Arizona Investment Funds, LLC out of California. The buyer was represented by Nick Miner, CCIM of Commercial Properties Inc. in Scottsdale. The seller was represented by Tom Semancik of Commercial Properties Inc. in Tempe. The center was 20% occupied at the time of close. The center was built in 1992 and fully remodeled in 2002. This was the third shopping center acquisition for Kinetic Companies in 2011 in the Phoenix MSA. Kinetic is looking for additional income-producing real estate assets in the Valley, as well as Las Vegas, Denver, Dallas, and Albuquerque. Talk to Kinetic at 480-365-1960.

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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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