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Macerich Facing Tough Decisions about Fiesta Mall

By Eric Jay Toll for Arizona Builder’s Exchange

Macerich loan on its portion of Fiesta Mall in Mesa may be going into foreclosure. Photo Credit: Phoenix Business Journal

Macerich loan on its portion of Fiesta Mall in Mesa may be going into foreclosure. Photo Credit: Phoenix Business Journal

What happens when you mix a dearth of shoppers with an over-built retail corner and a distressed shopping area? According to Phoenix Business Journal reporter Kristena Hansen, you get a tough decision on what to do with a pending foreclosure.

In premium content, Hansen interviews East Valley real estate developer Michael Pollock about the impacts of Tempe Marketplace and Mesa Riverview power centers on the 1MSF conventional Fiesta Mall. Owner Macerich has had its loan moved to a special servicer in a possible foreclosure move.

Read the full story at Phoenix Business Journal premium content.

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  1. Commercial Real Estate News 12-3-13 | Arizona Builders Exchange

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