An entity tracing to Tim Burns purchased the Township Plaza Retail building in Gilbert on Aug. 14 for $2.52 million with $1.02 million down and $1.5 million in new lending, according to commercial real-estate website vizzda.com

The lending comes comes from FirstBank, loan has an interest rate of 6.13% and matures Aug. 1, 2028. The seller entity traces to Floyd Luman.

The building at 1851 E. Baseline Road, Gilbert, is a 5,568-square-foot multitenant retail building. It was built in in 2003 on 0.51 acres of land zoned SC. The building is part of a community center with a Fry's and an Ace Hardware as an anchor.

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