SCOTTSDALE, AZ-A&C Properties Inc., operating under the name Kierland Village Center LLC, has sold its 116,809-square-foot Kierland Village Center for $25.3 million. The seller, who happens to be the developer of the 13-year-old retail center, handed over the keys to buyer Kierland Village CMH LLC.
According to a report in Business Real Estate Weekly and a press release from Cassidy Turley, the buyer of the center at 6501 E. Greenway Pkwy. is a joint venture between Ryan Denk of RD Advisors and Mariash Corp., led by Bob Mariash. Ryan Schubert and Michael Hackett with Cassidy Turley Arizona represented the seller.
The center is 99% occupied and is anchored by a Safeway Grocery store and a Walgreen Drug Store, both of which are on ground leases. Zach Pace and Teale Bloom of Phoenix Commercial Advisors have the leasing assignment.
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