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SCOTTSDALE, ARIZ. — A joint venture between Stockdale Capital Partners and Jasper Ridge Partners has invested $142.5 million to recapitalize the 537,110-square-foot Galleria Corporate Center in Scottsdale. The center is located at 4343 N. Scottsdale Road.
The building’s lobby and common areas will undergo a multi-million dollar renovation. The Galleria was originally built as a retail mall in the 1990s. It was converted to office use in 2000.
Major tenants currently include Yelp, SAP and McKesson. Stockdale purchased the Galleria Corporate Center in 2013.
The recapitalization includes the addition of more than two adjacent acres of land that is currently entitled for construction of up to 220,000 square feet of offices.