The Mercado Del Lago Mall, located just east of the Marguerite Lake in Scottsdale, sold Friday for a total price of $8.882 million or $161 per square foot. The investment group Arizona Partners, led by Bruce Shapiro and Mark Burns, funded their purchase with a $6 million note with Woodmen of the World Life Insurance Company.
This 55,000 square foot lifestyle center consists of three single-story buildings on 1.63 acres. Rentable suite sizes range from 902 – 9,299 square feet and house tenants such as "Chipotle", "Altitude Coffee Lab" and "Jimmy John's".For more information on this property including complete history and buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!