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Phoenix & Southwest  + Retail  | 

Pima Crossing Sells for $46M

Karlin Real Estate in Los Angeles struck a deal with Regency Centers Corp. to acquire the 238,275-square-foot Pima Crossing shopping center in Scottsdale, AZ. The Jacksonville, FL-headquartered Regency walked away from the transaction with $46.2 million. Michael Hackett and Ryan Schubert with Cushman & Wakefield brokered the transaction.

The 27.5-acre retail center at 8624-8776 E. Shea Blvd. is 96% occupied. Tenants include PGA Superstore, Stein Mart and LifeTime Fitness.

The buyer is no stranger to Scottsdale; it successfully acquired 277,253 square feet of retail less than two miles east of Pima Crossing in 2011. The space sold in 2014-2015 for a combined $77 million. Karlin is looking for more investment opportunities in the Phoenix area.

For comments, questions or concerns, please contact Amy Sorter


Inside The Story

Read More at Business Real Estate WeeklyConnect with Karlin Real EstateConnect with Regency Centers Corp.

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

  • ◦Sale/Acquisition
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