CORFAC News

Commercial Properties, Inc./CORFAC International, Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of Lindsay Groves Marketplace, a 16,187 square foot retail center at 2723-2727 E McKellips Road in Mesa, Arizona. The shopping center is shadow-anchored by Walmart Neighborhood Marketplace, Walgreens and Bank of America. Originally built in 2007, the multitenant center is conveniently situated on 2.13 acres on the southwest corner at the intersection of McKellips and Lindsay Roads.

Tom Semancik and Kyle Davis of the Retail Sales & Leasing Team at Commercial Properties Inc. represented the seller, a partnership associated with international real estate company North American Development  Group. Semancik commented, "The property offered the buyer, the syndication arm of Sperry Equities, LLC out of Southern California, a great retail investment with internet resistant NNN retail tenants in place.” Kyle Davis added, “We secured multiple offers for our seller and this buyer was chosen for their track record and experience in this market.”

Sperry Equities, LLC purchased the property for $3.1 million/$191.51 per square foot.

For additional information, please contact Tom Semancik at tsemancik@cpiaz.com and 480.966.0419 or Kyle Davis at kdavis@cpiaz.com and 480.889.2566.

About Commercial Properties Inc./CORFAC International
Established in 1981, Commercial Properties Inc./CORFAC International is a full-service brokerage and property management firm for all product types of commercial real estate. Headquartered in Tempe, the company has more than 60 brokers and is operating throughout the Phoenix metropolitan area. Currently, CPI's listings include over 21.6 million square feet for sale/lease with more than 197 projects and associations under management, totaling over 12.8 million square feet.