For Immediate Release: Legacy Real Estate Investments acquires Three Fountains Plaza retail buildings in Mesa, Arizona
Legacy acquires lender owned asset in Mesa, AZ, shadow anchored by Fiesta Mall and Target
Draper, UT – November 9, 2012 – Legacy Real Estate Investments, Inc. closed on October 25th on its latest acquisition of 18,500 square feet of retail space in two building inMesa,Arizona. The property is just east ofMesaCommunity College andBannerDesertMedicalCenter inMesa and just West of Fiesta Mall onSouth Longmore Road and is shadow anchored by Target. The property is currently 51% occupied by F.Y.E Music & Movies and will be 100% occupied shortly with the signing of a new restaurant tenant prior to closing. The new tenant will be O’Briens Restaurant & Irish Pub who will occupy the former TGI Friday’s building, the building is currently undergoing extensive renovations for the new tenant.
“We are thrilled to be able to acquire this quality asset at such an exceptional value. This property has two great tenants and is a destination retail area with strong retail draws including Target and Fiesta Mall” commented David Werts, Principal and Founder of Legacy. ThreeFountainsPlazawas marketed by Chad Tiedeman with Phoenix Commercial Advisors on behalf of the seller CW Capital. Financing was arranged and provided by Greg Sir of Sir Mortgage & Finance ofPhoenix,Arizona.
About Legacy Real Estate Investments
Founded in 2005, Legacy is a real estate investment, management and consulting firm specializing in commercial real estate properties in theWestern United States. Legacy represents investors that include high net worth individuals, families, pensions and trusts as well as corporate and institutional clients in building wealth through commercial real estate investments and providing better than market returns through its experience, relationships and business practices.
Contact: David C. Werts
(801) 996-8626
