Scottsdale Parcel Sells for $2.8 Million to Make Way for La-Z-Boy Showroom

Business News | 28 Aug, 2013 |

A Scottsdale-based firm paid $2.8 million to develop a parcel at 6828 E. Camelback Rd. with plans to construct a La-Z-Boy Furniture store that is expected to break ground this October. A 10,096 SF, Class C office building built in 1978 was demolished to make
way for the new retail building.
The 27,878 SF parcel is located just east of the intersection of Camelback and 68th St. The intersection has been the focus of increased construction activity in the last year as an apartment complex on the SE corner was demolished to make way for a new upscale apartment community called Optima Sonoran Village.
RRKBob Kling, Principal with Lee & Associates Arizona represented the seller, TD Note, LLC of Paradise Valley. Bob Crum of Ross Brown Partners and Darren Pitts of Velocity Retail Group represented the buyer Beft Camelback, LLC.
“This prime location near Scottsdale Fashion Square and other amenities provides a great opportunity for La-Z-Boy,” said Kling. “Add in as many as 576 upscale apartments to be constructed across the street and they could have a strong customer base at their doorstep.”

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