112,000 square foot retail property Tri-Valley Plaza was sold to an undisclosed buyer for $13.4 million. The center, in Casa Grande, is made up of two buildings. The larger of the two was vacated by Walmart but the owner was able to fill the space with a number of mid-sized tenants such as Planet Fitness, Ace Hardware Jo-Anns Fabric and Aarons.
The smaller of the two buildings is occupied by Mattress Firm, Fry’s Foods and Cox Communications.
Sanford Burstyn of Marcus & Millichap had the listing. The out-of-state buyer took advantage of a 1031 tax exchange.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.