Augusta Ranch retail purchased at $234 a square foot

Brokerage Marcus & Millichap recently arranged the sale of Augusta Ranch Marketplace, an 80,247-square-foot shopping center in Mesa, Ariz., for a price of $18.7 million.

Paulsen Armp LLC sold the property to TME Augusta Ranch LLC .

Located at the southwest corner of Baseline and Crimson roads, the shopping center consists of four multitenanted retail buildings and one vacant parcel situated on 10.39 acres within the master-planned Augusta Ranch community.

Built in 2005, the fully occupied Augusta Ranch Marketplace features 18 tenants, all with triple-net leases in place. Tenants include Allstate Insurance, Bashas' Supermarket, Data Doctor, Great Clips, Slim and Tone, and Tropical Smoothie Cafe, among others.

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