Cushman & Wakefield announced today the sale of The Village at Las Sendas, a multi-tenant retail center located on the northeast corner of McDowell Road and Power Road in Mesa, Ariz. for $8.25 million.
Cushman & Wakefield Executive Managing Directors Ryan Schubert and Michael Hackett represented the buyer, an entity formed by Pacific West Land (PWL).
“The Village at Las Sendas provides PWL with a stable, cash flowing asset with immediate upside potential in lease up,” according to Executive Managing Director Michael Hackett.
Built in 2004, The Village at Las Sendas contains 39,144 square feet of retail space. Adjacent to the prestigious Las Sendas Master Planned Community, the property offers a mix of tenants including Chipotle Mexican Grill, SmashBurger, Jimmy Johns to name a few, as well as a host of other local and regional tenants. The property was 80% leased at the time of sale.