8th Avenue & Alma School

CVP acquired this 86,444 square foot neighborhood shopping center in October of 2015 on the southwest corner of 8th Avenue & Alma School Road in the city of Mesa. The property is a well-located infill center in need of an immediate capital expenditures for aesthetic improvements and a deeper focus on leasing. The demographic nature of this project complements our strategy to engage in Hispanic oriented retail markets.

CVP extended our anchor grocery store lease with Food City and focused on building relationships with our small shop tenants. As part a lease renewal, Food City renovated their space converting the store into a flagship Mesa location. We recently signed deals with Kid’s Haven, Pinnacle Education, and Metro PCS.  We are now working to lease the two remaining vacant spaces to complementary users focused on providing products and services to the Hispanic consumer market.

Arcadia Management Group is heading up the property management efforts for the asset and Beau Flahart, Rommie Mojahed, and Eddie Gonzalez of SVN Desert Commercial Advisors lease the project. Tim Storey and Chad Metzger from Newmark Realty Capital brokered the financing with JCR Capital. Rommie Mojahed and Beau Flahart at Sperry Van Ness represented CVP on this acquisition.