Bond Street REIT Acquires Retail Center The Shops At Civic Center In Gilbert For $10.8M
211 East Warner Road & 263 East Warner Road
$10,800,000
$210/SF
Building Size
25,690 SF
Asset Type
Retail
Closing
Mar 30, 2026
About this deal
AI
The transaction involved a retail asset located at 211 East Warner Road & 263 East Warner Road in Gilbert, Arizona. The property encompasses an area of 180 acres and consists of a retail center measuring 25,690 square feet. The sale price was $10,800,000, translating to a price per square foot of $420.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,800,000
- Address: 211 East Warner Road & 263 East Warner Road
- Market: Gilbert, AZ
- Square Footage: 25,690
- Price Per Square Foot: $420
- Buyer: Bond Street REIT
- Broker: Ross Sanzari - Surmount
Surmount facilitated the sale of The Shops at Civic Center, a retail center that is currently 95% leased to notable tenants such as Zipps Sports Grill and Lifetime Family Dental.
Players
Gilbert 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
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93