Casa Grande Mall, the vacant half-century old shopping center at the northwest corner of Florence Boulevard and Colorado Street, has been sold to Hinkson Company LLC, owner of the newer Casa Grande Center across Colorado as well as Villago Village at the northeast corner of McCartney Road and Pinal Avenue.
Hinkson paid $7.7 million to purchase the 221,328-square-foot center from prior owner Pacific Properties Inc. and was represented by SRS Real Estate Partners of Phoenix in the transaction.
Sitting on 15.53 acres about 5 miles west of Interstate 10, the mall’s former tenants include Big Lots (which is now in the adjacent Hinkson-owned property), Kmart, a six-screen multiplex movie theater, Rent-a-Center, Koko Wear and numerous other shops. Its fatal decline began with the recession of 2008, shortly after the larger Promenade at Casa Grande shopping center opened at I-10 and Florence.
“Hinkson Company has the experience and successful track record of acquiring and redeveloping shopping centers throughout metropolitan Phoenix and Casa Grande. Their long-term relationships with retailers, municipalities and neighborhood communities make them a perfect fit to redevelop the former Casa Grande Mall,” said SRS Senior Vice President & Principal Brian Polachek. “The city of Casa Grande and the residents should be excited and proud of what’s to come.”
Hinkson did not respond to an email seeking comment about its plans for the property.
