CBRE negotiated the $4.25M sale of Highland Plaza, a 17,867 SF retail center at 1458 and 1496 N. Higley Rd. in Gilbert, just south of the US 60 freeway.
Steve Julius and Jesse Goldsmith of CBRE’s Phoenix office represented both parties. The seller was Mariah Properties VIII and Mariah Properties IX, LLC of Gilbert. The buyer was Virji Investment Corporation of Calgary, Alberta, Canada.
“Highland Plaza is a high-quality, stable investment for the buyer due to its national tenant mix and strong grocery anchor draw,” Julius said.
Built in 2002, the Highlands Plaza buildings are shadow-anchored by a Safeway and also share the shopping center with a McDonald’s fast-food restaurant, BBVA Compass bank and Kneaders Bakery. The center was 94% leased at the time of sale.
