Months after its developer received final zoning approval from the city of Mesa, the former Fiesta Mall site is now formally in the hands of a single owner.
Verde Investments, the real estate firm owned by billionaire Ernest Garcia II – the richest person in Arizona – in February completed the final land transaction for the 80-acre site, now dubbed Fiesta Redefined, where it intends to develop a sprawling mixed-use development complete with 4,000 new housing units, up to 1.85 million square feet of retail and commercial space and over 500,000 square feet of open space.
The nearly $24 million acquisition of 34 acres at the site was recorded on Feb. 28, according to Maricopa County records and real estate database Vizzda.
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