Northsight Village Shopping Center, an 88,031 SF retail center built in 2001, sold for $11.5M. The property is located on Northsight Boulevard just north of Raintree Drive adjacent to The Home Depot, Costco, Sam’s Club, Walmart Supercenter, and is surrounded by millions of square feet of retail, office and residential as well as the Scottsdale Airport and Loop 101 Freeway.
Ari Spiro and Sean Stutzman of ORION Investment Real Estate negotiated the transaction. ORION’s President Ari Spiro noted, “The buyer was drawn to the property due to its stable tenant base, relatively low price per square foot, North Scottsdale location and demographics, and the quality of new developments in close proximity.”
The property was sold by Colorado-based GDA Real Estate Services and purchased by Arizona Partners based in Scottsdale. Northsight Village is anchored by Savers and 90% leased to a variety of local and regional tenants.