Peak Southern LLC has paid $3 million for 5.83 acres at 10834 E. Southern Ave. in Mesa.  The buyer plans to develop a Mesa retail center on the site, which was purchased from Signal Butte & Southern LLC.

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John Jackson and Kristina Remon of Colliers in Arizona negotiated the sale transaction.

“We are excited to remain involved as exclusive sales/leasing agents for the new deveopment,” says Jackson.  “The property will be divided into three pad sites, which are available for purchase, build-to-suit or ground lease.  Construction of the retail buildings will be based on purchase or lease timing.”

The project is conveniently located within one mile of US-60 in the high-growth area of East Mesa, AZ.  The trade area surrounding the location has historically demonstrated low retail vacancy with high barriers to entry.