JLL Capital Markets announced that it has closed the sale of Mesa Shores, a 110,917-square-foot retail center anchored by Trader Joe’s, Sprouts Farmers Market and EOS Fitness in the Phoenix-area community of Mesa, Ariz.
JLL marketed the property on behalf of the seller, ACF Property Management. Epic Real Estate Partners acquired the asset. “Despite a changing interest-rate environment, neighborhood shopping centers represent a relative value compared to other commercial property sectors,” says Patrick Dempsey, managing partner at JLL’s Retail Capital Markets.
Originally constructed in 1995, Mesa Shores has been upgraded and renovated throughout the years, most recently in 2016. The 92.9-percent-leased center boasts two coveted and popular grocery anchors, Trader Joe’s and Sprouts Farmers Market. The grocers are complemented by a quality mix of daily needs and internet-resistant tenants, including EOS Fitness, Mesa Dogs 24/7, Peter Piper Pizza, Einstein Bro
