North Scottsdale’s Sonora Village Sells for $73M

YAM Properties LLC acquired the 270,000-square-foot Sonora Village shopping center in North Scottsdale, AZ. The local buyer paid $72.5 million in total, through two separate transactions, to SimonCRE Abbie II LLC and Sonora Village Investors LLC, both of which are in Scottsdale. Jan Fincham and Patrick Dempsey of Lee & Associates Arizona Inc. negotiated both sales.

The Pederson Group developed Sonora Village at Loop 101 and Frank Lloyd Wright Boulevard 20 years ago. The plaza is 97% occupied, with anchors including Best Buy, Studio Movie Grill, Staples, Mattress Firm, Party City and Peter Piper Pizza. Zach Pace and Teale Bloom, with Phoenix Commercial Advisors, will continue to handle leasing.

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