Mission Village Shopping Center was sold in 2014 for $8.05 million. Photos via loopnet.com.
Written by The Business Journal Staff
A familiar Fresno shopping center that features a “shadow anchor” is changing hands once again with a recent sale.
Mission Village Shopping Center at the southwest corner of Shaw Avenue and Fresno Street has been sold to The Gilda A. Papazian Revocable Trust and the Kimberly R. Hudson Revocable Trust by MCS Mission Village, LLC, reported brokerage Newmark Pearson Commercial.
Troy McKenney and Craig Holdener of Newmark were the agents. The shopping center was listed at 54,817 square feet. The sale price was not disclosed.
A message left for Holdener was not returned.
Mission Village was last sold in 2014 for $8.05 million, or about $152 per square foot, according to a news release from buyer MCS Guardian Properties in Solana Beach. It was about 83% occupied at that time.
In 2012 a newly built, freestanding CVS pharmacy built on a 1.2 acre outparcel at Mission Village was sold for $5.24 million. The CVS is marketed as a “shadow anchor” on the seller’s website – a term for an anchor store that is not part of a shopping center.
Tenants include a mix of restaurants, boutiques, offices and a beauty supply store. It’s mission-style architecture and location near Fashion Fair Mall on one of the busiest intersections in Fresno make it a high-profile acquisition.
Mission Village was built in 1979 and remodeled in 2009.