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North Phoenix Project Makes Strides Under New Ownership

PHOENIX-Since its purchase in April of this year, the mixed-use development City Center of City North is attracting new tenants and filling retail vacancies.

By John Jordan | Updated on December 10, 2013

PHOENIX-Since its purchase in April of this year, the mixed-use development CityCenter of CityNorth is attracting new tenants and filling retail vacancies.

Economic and legal issues had plagued the property since its opening in 2008. Earlier this year, Scanlan Kemper Bard Companies, a real-estate private-equity firm based in Portland, Ore., and private equity firm Wayzata Investment Partners of Wayzata, MN purchased the property for $67 million, according to the Arizona Republic. The 628,000-square-foot property includes 99 condominiums leased as apartments, 330,000 square feet of office space and 175,000 square feet of retail space.

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