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Investor Snaps Up Mesa Retail In Value-Add Play
Courtesy of CBRE
Shops at Sossaman in Mesa, Ariz.
LA-based AEI Sossaman LLC acquired the Shops at Sossaman, a neighborhood retail center at 7641 East Guadalupe Road in Mesa for an undisclosed price. CBRE’s Steve Julius and Jesse Goldsmith repped the seller, Texas-based 7641 E Guadalupe LLC.
Developed in 2002, the 34K SF center includes a mix of food and service tenants, with nearby national retailers including CVS and AutoZone.
“The Shops at Sossaman presents a great value-add opportunity for the buyer, as the property is only 37% occupied yet still has current positive cash flow,” Julius said.
