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Cushman & Wakefield, Cassidy Turley Announce Mercado At Scottsdale Ranch Sells For $21.25M

 

Cushman & Wakefield and Cassidy Turley announced the $21.25M sale of The Mercado at Scottsdale Ranch, a Class A community retail center at 10155 E. Via Linda.

The seven-building center, located within a densely populated area of Scottsdale, is 96% occupied and heavily anchored by AJ’s Fine Foods and Walgreen’s.

Whitestone REIT of Houston purchased the center from Danville, Calif.-based Rassier Properties.

Cliff Johnston, executive vice president with Cassidy Turley and Greg Valladao, senior director of retail properties with Cushman & Wakefield, represented Rassier in taking the property to the market, procuring Whitestone REIT as a purchaser, and completing the multi-million dollar acquisition.

“C&W was pleased to assist Rassier Properties in their planned sale of Mercado at Scottsdale Ranch,” Valladao said.

“Our broad-based marketing campaign allowed them to take advantage of historically low capitalization rates and pent up investor demand for grocery-anchored retail properties.”

 

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