Scottsdale Horizon Shopping Center is sold
DTZ, a global leader in commercial real estate service, announced today that a Dallas based private real estate fund advised by Crow Holdings Capital – Real Estate (CHC–Real Estate) sold Scottsdale Horizon Shopping Center, a 154,766 square foot neighborhood shopping center located at 14850 N. Frank Lloyd Wright Boulevard in Scottsdale, AZ. Weingarten Nostat, Inc. (Houston) purchased the property.
DTZ Executive Managing Directors Dan Wald, Michael Hackett and Ryan Schubert represented CHC–Real Estate during the transaction.
“Scottsdale Horizon is located in one of the most affluent and dense trade areas in the Valley, servicing the residents of North Scottsdale and the Scottsdale Airpark, the second largest employment corridor in the metro region,” said Mr. Schubert. “It was an extremely desirable asset with a solid tenancy of high-quality, national and regional retailers.”
Located in North Scottsdale at the convergence of Frank Lloyd Wright Boulevard, Thompson Peak Parkway and Raintree Drive, Scottsdale Horizon is anchored by a high-volume Safeway Food and Drug and CVS/pharmacy, both which pay ground rent under ground lease agreements. Built in 1997, Scottsdale Horizon was 95% leased at the time of sale. In addition to Safeway and CVS, Scottsdale Horizon tenants include Chase Bank, H&R Block, Supercuts, Jack in the Box, Massage Envy and Leslie’s Pools.