Pollack, CEO of Michael A. Pollack Real Estate Investments, sold Phoenix’s El Monte Plaza on Dec.21 for $9.9million. The shopping center is near 19th and Dunlap avenues. Three days later, he bought the smaller Tempe shopping center, near Scottsdale Road and Hancock Avenue, for $2.6million.
Pollack said fiscal-cliff fears motivated him to close the deals before Jan.1.
“It felt like a race against the clock,” he said.
Read more: El Monte Plaza sells for $9.9M
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