Another REIT Purchases Popular Gilbert Plaza

A well-known retail plaza located on Warner Road just east of Gilbert Road, near Life Time Fitness, has sold for $10,800,000. The property sits on approximately 4 acres and is home to several popular local dining spots that see steady traffic from nearby neighborhoods and businesses.

Current tenants at the plaza include Over Easy, Zipps Sports Grill, Hazel Row’s, and Taco Elegante, making it a frequent stop for breakfast, lunch, dinner, and drinks for many Gilbert residents.

Property Sales History

The property has changed hands several times over the years, reflecting how valuable well-located retail real estate in Gilbert has become.

• 2004: Sold for $2,000,000
• 2006: Sold for $11,000,000
• 2022: Sold for $10,400,000
• 2026: Sold for $10,800,000

Despite market fluctuations over the years, the plaza continues to hold strong value thanks to its high-visibility location along Warner Road and its proximity to Gilbert Road, one of the busiest corridors in the area.

Strong Location Near Life Time Fitness

One of the biggest drivers for the plaza is its location near Life Time Fitness, which brings consistent daily traffic to the area. Combined with nearby residential neighborhoods and easy access from Gilbert Road, the center has remained a strong destination for casual dining and local hangouts.

Retail centers anchored by recognizable restaurant brands and located near major intersections often attract REIT (Real Estate Investment Trust) buyers, who look for stable, long-term investments with reliable tenant demand.

As Gilbert continues to grow and more residents move into surrounding neighborhoods, well-positioned retail centers like this one are expected to remain highly sought after by investors.