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NKF Brokers $9M Sale of Shoppes at Legacy in Mesa, Arizona

Shoppes-Legacy-Mesa-AZ

Shoppes at Legacy House in Mesa, Ariz., features 54,160 square feet of retail space.

MESA, ARIZ. — Newmark Knight Frank (NKF) has arranged the sale of Shoppes at Legacy, a retail center located at 5609 E. McKellips Road in Mesa. An affiliate of YAM Properties sold the asset to Sperry Equities for $9 million, or $166.17 per square foot.

Built in 2006, Shoppes at Legacy features 54,160 square feet of retail space. At the time of sale, the retail center was 90 percent occupied by a variety of tenants, including Cigna Medical Group and Pita Jungle. The transaction included a freestanding building occupied by Auto Zone on a triple-net lease and a Verizon cell tower.

Jesse Goldsmith, Steve Julius and Chase Dorsett of NKF represented the seller and buyer in the deal.

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