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FalconEye Buys Scottsdale Quarter, to Spend $100M on Improvements
FalconEye Ventures acquired Scottsdale Quarter, a 755,000-square-foot open-air mixed-use destination encompassing retail, dining, and office components, complemented by nearly 600 residential units. Commercial Edge reports that Washington Prime Group was the seller, and the debt, totaling $165 million that previously encumbered the property, was due to mature this month.
A $100 million capital improvement program is planned as part of the acquisition. Vestar will be a strategic partner and oversee operations at the property.
Home to retail brands such as Apple, Restoration Hardware, lululemon, Jenni Kayne, Veronica Beard, Dominick’s Steakhouse, and True Food Kitchen, Scottsdale Quarter has long been a cornerstone of the Southwest’s retail landscape.
Implementation of the makeover is scheduled to commence in late 2025, with phased execution designed to minimize operational disruption to existing tenants and maintain continuity of service to visitors.
FalconEye Ventures is a real estate investment company founded by tech entrepreneur George Kurtz in 2020.
- ◦Sale/Acquisition
