Southern Sunset Plaza, 1250 S. Country Club Dr. in Mesa, has been purchased by an investor from Irvine, CA. The mixed-use community center is anchored by IntouchCX (formerly 24-7 Intouch), Banner Health, and Carrington College. The sale price was $30 million, according to Vizzda.
“This truly unique asset represents the growing trend of retail properties successfully becoming mixed-use destinations for office and medical businesses as well as retailers and restaurants,” says Mindy Korth, executive vice president with Colliers in Arizona. “The strong, institutional tenancy offered the buyer stabilized income with the opportunity to enhance value through leasing the vacant spaces.”
Korth and JK Jackson with Colliers in Arizona handled the sale transaction. 1250 Country Club Dr LP of Manitoba, Canada was the seller. A partnership of three investors of Irvine, CA purchased the property.
This is the second property sold by the Manitoba, Canada investor that Korth and Jackson have sold. Their group has a third property of this owner under contract.
Southern Sunset Plaza was originally constructed in 1973 and has benefitted from numerous renovations during the past 50 years. The single-level center contains 200,091 square feet of space and was 86 percent leased at the time of the sale.
Two of the tenants, IntouchCX and Banner, are major employers of Mesa, and the range of services provided by each occupant plays an integral role in meeting the diverse needs of the community. IntouchCX occupies approximately 56 percent of the project, while Banner offers a very busy 21,000 square foot medical clinic at this site.
Southern Sunset Plaza is located at the intersection of Southern Avenue and Country Club Drive within 1.5 miles from Downtown Mesa, AZ, just one-quarter mile north of US Highway 60. More than 55,000 vehicles per day pass this site, and the property is surrounded by dense residential communities.