AUGUSTA RANCH MARKETPLACE SELLS FOR $18.74 MILLION

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MESA, ARIZ. — TME Augusta Ranch LLC has acquired Augusta Ranch Marketplace, an 80,247-square-foot shopping center in Mesa, for $18.74 million or $234 per square foot. Located at the intersection of Baseline and Crimson roads, the center consists of four multi-tenant retail buildings and one vacant parcel situated on a 10.39-acre site within the Augusta Ranch community. The center is currently fully leased to a variety of tenants, including Allstate Insurance, Bashas’ Supermarket, Data Doctor, Great Clips, Slim and Tone, and Tropical Smoothie Café. Jamie Medress and Steve Gonzales of Marcus & Millichap represented the seller, Paulsen Armp LLC, in the transaction.

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