Desert Troon Cos Sells Superstition Gateway Shopping Center In Mesa Arizona For $121 Million
1940 South Signal Butte Road
$121,000,000
$244/SF
Building Size
495,902 SF
Asset Type
Retail
Closing
May 5, 2025
About this deal
AI
The property involved in the transaction is a retail asset located at 1940 South Signal Butte Road, Mesa, AZ. This asset encompasses approximately 65.7 acres and has a total square footage of 495,902. The sale was completed at a price of $121,000,000, equating to a price per square foot of $244.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $121,000,000
- Address: 1940 South Signal Butte Road
- Market: Mesa, AZ
- Acres: 65.7
- Square Footage: 495,902
- Price Per Square Foot: $244
- Seller: Desert Troon Cos
- Brokerage: Lee & Associates
- Brokers: Brent Moser, Mike Sutton & Jan Fincham
The transaction involved Desert Troon Cos. selling the Superstition Gateway Shopping Center to a Southern California family office. This deal was facilitated without being publicly listed, handled by Lee & Associates Arizona.
Players
Mesa Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93