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Crow Holdings Bags Mesa Shopping Center

A joint venture managed by Crow Holdings Capital has purchased The Shops at Sossaman, a 34,151-square-foot neighborhood shopping center in Mesa, Ariz., for $8.1 million. Abington Emerson Investments was the seller and Newmark brokered the transaction.

Abington acquired the property back in 2017 for $3 million, according to CommercialEdge data. At the time of the purchase, the asset’s occupancy was only 37 percent.

Completed in 2002, The Shops at Sossaman is now 100 percent leased to a diverse tenant mix of tenants such as Banner Health Physical Therapy, East Valley Pet Urgent Care, Empower Academy and Crave Pizza.

A Newmark team led by Steve Julius represented the buyer. Renee Shprecher of Buchalter represented Abington Emerson.

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