PHOENIX—A Scottsdale retail center anchored by Safeway and CVS Pharmacy fetched an impressive $44.5 million, announces Cassidy Turley. The 160,228-square-foot Shea Scottsdale was sold to an entity formed by Jerry Simms. The seller was Karlin Real Estate of Los Angeles. The property, 160,228 square-foot property is located at 10653 N. Scottsdale Rd.
Executive managing directors Michael Hackett and Ryan Schubert with Cassidy Turley Capital Markets Group represented Karlin Real Estate. Marty DeRito with DeRito Partners assisted the buyer.
Hackett tells GlobeSt.com he thinks the sale exemplifies the strength of the U.S. and Arizona markets where high-quality grocery store anchors are concerned.
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