Featured in ConnectCRE on August 15, 2024.

SimonCRE has sold the Mesa Ranch Plaza, a 130,000-square-foot shopping center in Mesa, Arizona. Private investor, Mesa Ranch 24 paid $26 million for the property, which is 99% leased out. Simon paid $17.6 million for the property in 2021.

Alex Kozakov and Patrick Wade of CBRE’s South Bay Los Angeles office represented the buyer and seller in the transaction. Wade said that before selling the property, Simon upgraded the center and secured several new, long-term leases.

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