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New York REIT Sells Phoenix-Area Shopping Center for $26.8 Million

Demand for Open-Air Centers Remains 'Robust,' Kimco Realty Says
Mesa Pavilions North and Mesa Pavilions South total 307,417 square feet. (Lamar Cos.)
Mesa Pavilions North and Mesa Pavilions South total 307,417 square feet. (Lamar Cos.)
By Sunny Chudgar
CoStar Research
January 21, 2020 | 9:12 P.M.

Kimco Realty Corp., one of the largest shopping center REITs in the country, recently sold Mesa Pavilions North and Mesa Pavilions South in Mesa, Arizona, to a joint venture of Fairfield, New Jersey-based Lamar Cos. and Real Capital Solutions for $26.8 million, or about $87 per square foot.

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