One of Mesa’s premier shopping centers traded hands on April 23 and recorded the highest sale price for a Valley retail shopping center since 2022.
Desert Troon Cos. sold Superstition Gateway Shopping Center for $121 million in an off market transaction on April 23, Lee & Associates told the Business Journal. It marks the metro’s largest shopping center sale since Scottsdale Promenade changed hands for $180 million in August 2022.
California-based Alvarez & Marsal Capital Real Estate acquired the 495,000-square-foot retail center, according to a Vestar announcement. A Lee & Associates team including Jan Fincham, Mike Sutton and Brent Moser represented the seller. Desert Troon sold the center through a pair of affiliated entities…