185
SCOTTSDALE, ARIZ. — Ziff Real Estate Partners (ZRP) has acquired Mercado at Scottsdale Ranch, a neighborhood retail center in the Phoenix suburb of Scottsdale. Whitestone REIT sold the asset for $26.5 million. This transaction marks ZRP’s first purchase in Arizona.
Situated on more than 11 acres, Mercado at Scottsdale Ranch offers 118,751 square feet of retail space occupied by a blend of national, regional and local tenants, including Planet Fitness and Walgreens. The center serves Scottsdale Ranch, a 1,100-acre, master-planned community.
Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller, while Christian Chamblee and Kayla Meier provided self-representation for the buyer in the transaction.