Based in Denver JFRCO acquired Lakeview Village at Morrison Ranch in Gilbert, Arizona, as part of a 1031 exchange versus $ 18.2 million between Vestar.
The property is a 93,741 square foot shopping center located between 25 and 125 Higley Road in Gilbert, AZ. The building is approximately 99% occupied by tenants, including Basha, the former grocer, Dance Republic, Panda Express, Subway, UPS Store and Edward Jones, among others. It also includes three expandable pads.
SRS Real Estate Partners, Investment Property Group‘s John Redfield and Eric Diesch with Pinnacle Realty Advisors represented the buyer. The seller, Vestar, was represented by Ryan Schubert and Michael Hackett of Cushman & Wakefield.