Bayshore Plaza

Property Overview

Bayshore Plaza is a 27,702 SF anchored retail center built in 2004, located at 690 W Warner Rd in Gilbert, AZ. The property sold for $5,000,000 ($180/SF).

Challenge

Our team was engaged to represent both the buyer and the seller in the sale of Bayshore Plaza, a multi-tenant anchored retail center in Gilbert, Arizona. The seller had originally acquired the property as a value-add opportunity and had worked to stabilize it over time. The buyer needed to complete a 1031 exchange using proceeds from a sale in Washington State, which introduced timing constraints and added complexity to the transaction. Ensuring the asset's income stability during escrow was critical to the buyer's ability to close.

Action

Our team coordinated the transaction on both sides, managing the competing priorities of a seller looking to exit a repositioned asset and a buyer operating under 1031 exchange requirements. To support the buyer's financing and exchange objectives, the Kidder Mathews leasing team facilitated multiple lease extensions with existing tenants during the escrow period. This work stabilized the rent roll and gave the buyer the income certainty needed to proceed with confidence.

Result

• Represented both the buyer and the seller in a single transaction
• Coordinated multiple lease extensions during escrow through the Kidder Mathews leasing team, strengthening the rent roll ahead of close
• Buyer successfully completed a 1031 exchange, deploying proceeds from a prior Washington State sale into a stabilized Arizona retail asset
• Property sold for $5,000,000 ($180/SF)