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1/09/17
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Pima Crossing, a 283.3k sf retail center in Scottsdale, AZ, was purchased for $46.15 mil ($163/sf) by an entity formed by Los Angeles-based Karlin Real Estate. The asset, located on the northwest corner of Shea Blvd and Pima Rd, was sold by Regency Centers L.P, of Jacksonville, FL.
Spanning 27.5 acres, Pima Crossing is anchored by a PGA Superstore. It is home to well-known national and regional tenants including Pier 1 Imports, Lifetime Fitness, Stein Mart, Scottsdale Beer Company, Discount Patio and many more. The center is currently 95% leased.
Centrally located in North Scottsdale, Pima Crossing is adjacent to the 101 Fwy and minutes from HonorHealth Scottsdale Shea Medical Center. The center also has its own signalized intersection at the south end of the shopping center.
Michael Hackett and Ryan Schubert with Cushman & Wakefield represented the seller in the deal.
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