VILLAGE SQUARE AT DANA PARK SELLS FOR $50.5M

MESA, ARIZ. — Village Square at Dana Park, a 310,979-square-foot community center in Mesa, has sold to Whitestone REIT for $50.5 million. This represents a 45 percent discount to estimated replacement cost. The center contains 292,714 square feet of open-air retail space, as well as 18,265 square feet of office space. It is currently 71 percent leased. Notable retail tenants include AJ’s Fine Foods, Barnes & Noble, Z Gallerie, Anthropologie, Coldwater Creek, Jared Galleria of Jewelers, Chico’s, California Pizza Kitchen, White House Black Market, Bath & Body Works, Talbots, Ann Taylor Loft, Five Guys Burgers and Fries, RA Sushi, Sauce and Pei Wei.