CBRE, Group Inc., has completed the sale of The Shoppes at Copper Point, a multi-tenant retail building located on the hard northwest corner of Val Vista Drive and Willis Road in Gilbert, Ariz. The 15,086-square-foot retail property was fully leased to a complementary mix of national and local tenants and commanded several offers and a sale price of $6.35 million, or approximately $421 per square foot.
Andrew K. Fosberg, Joseph R. Compagno and Dylan A. Brown with CBRE’s Phoenix office represented the seller, WCCP Copper Point, LLC, an entity formed by West Coast Capital Partners (Bill Metzler & Scott Douglas, principals) of Scottsdale, Ariz. and Los Angeles.
Built in 2007, The Shoppes at Copper Point was 100 percent leased to: SimonMed Imaging, Fidelity National Title Agency, Port of Subs, Accurate Family Vision, Sarouja Pharmacy and AZ Chiropractic. The Property and its tenants benefit from excellent visibility and signage along Val Vista Drive as well as from its location across the street from Mercy Gilbert Medical Center (±198 beds and ±1,100 employees) and the Loop 202.
“The Shoppes at Copper Point is an excellent example of a quality, in-fill project in one of the best trade areas in the state,” said Fosberg. “The Seller did an excellent job of finding a complimentary mix of retail and medical tenants, drawing off the freeway and adjacent hospital exposure.”
Steven Ives, of KW Commercial represented the buyer, Ives Property Investment, LLC
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Original Source: CBRE Group