Thursday, November 8, 2012

Lincoln Village Shops in Scottsdale sell for $38,712,500 or ±$544/SF

VIZZDA - Nov 8, 2012 – The Lincoln Village Shops in Scottsdale were sold Wednesday for $38,712,500 or $544.16 per ft2 with no new debt recorded. The seller is Redwood Real Estate Partners- Scott Grady as investment manager. The buyer contact is joint investment entity called Global Retail Investors (GRI), formed in 2005 by First Washington Realty and CalPERS.  Lee & Associates has been reported as the broker for the deal.

The Lincoln Village Shops is a shopping center at 6200 N Scottsdale Road totaling 71,142 square feet with ±44K ft2 of strip retail on the west of the property and two large retails pads totaling ±25K
ft2 fronting Scottsdale Road. Lincoln Village was recently renovated in 2011, and originally built in 1979. The property was previously acquired in two transactions in the late 1990s. Square footage is based on reporting from broker; VIZZDA’s inspection of site plans indicates 69,482 SF total.  See below for tenant mix:

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Edward Moore
Director of Research

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