PHOENIX – Evergreen Devco, Inc., a leading retail and multifamily development company, announced that it has purchased the anchor-tenant building at the southwest corner of Mesa Drive and Southern Avenue in Mesa for an undisclosed price.
Evergreen will redevelop the currently vacant 30,400-square-foot property and is working with a national tenant on a lease agreement to occupy the anchor space. Following Evergreen’s purchase of Chandler Pavilions last month, the acquisition at Mesa & Southern marks the second successful closing of an existing retail center for the company since July.
“We are excited to acquire our second value-add retail asset in the past 30 days, and very appreciative of all involved who made this deal possible during such challenging times,” said Bryan Lamond, Director of Acquisitions with Evergreen Devco. “We are encouraged by the opportunities that we continue to see as the result of our commitment to relationships and ability to move quickly in a turbulent market. We look forward to announcing an agreement with our anchor tenant shortly, and to bringing new jobs and vitality to Mesa.”
Situated on approximately 89,000 square feet, the shopping center is located less than a quarter-mile from the Superstition Freeway (US 60) along a popular retail and traffic corridor that has more than 180,000 residents within a three-mile radius. The anchor space, which was formerly occupied by Big Lots, is ideally positioned to reach customers throughout the east valley.
Purchase of the parcel was completed directly between the buyer and seller.