Vestar Sells Grocery-Anchored Shopping Center for $18.2M in Gilbert, Arizona


A 52,443-square-foot Bashas’ anchors Lakeview Village at Morrison Ranch in Gilbert, Ariz.

GILBERT, ARIZ. — Phoenix-based Vestar has completed the sale of Lakeview Village at Morrison Ranch, a shopping center located at the corner of Higley and Elliot roads in Gilbert. Colorado-based JFRCO acquired the asset for $18.2 million.

Developed in 2014, the 93,741-square-foot retail center is anchored by a 52,443-square-foot Bashas. At the time of sale, the property was 98.6 percent leased to a variety of tenants, including Dance Republic, Panda Express, UPS Store and Edward Jones.

Ryan Schubert and Michael Hackett of Cushman & Wakefield represented the seller, while John Redfield of SRS Real Estate Partners represented the buyer in the deal.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News

Webinars on Demand


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties