Rood Investments acquired the highly desirable High Street in North Phoenix for $172,103,940, according to Vizzda, the commercial real estate tracking site. The deal included the part of High Street that is already built, along with Phase II, which is still in the planning stage.

An entity tracing to Scanlan Kemper Bard assumed the tenant rights to the west 4.89-acre parcel of land with this sale. The land is planned for the development of Phase II.

READ ALSO: The 3 hottest neighborhoods in Arizona

The property was acquired from an entity tracing to Harbert Management Corp.

Since its development, visitors and locals alike have flocked to High Street, which is located on a 19.33-acre parcel of land at 56th Street and the Loop 101 in North Phoenix. The entertainment complex features an urban, upscale district with specialty salons, fashion boutiques, trendy bars and gourmet restaurants.

High Street is located near Desert Ridge Marketplace and JW Marriott Phoenix Desert Ridge Resort & Spa.