Cushman & Wakefield announced today the firm has brokered the sale of Pima Crossing, a high-quality 238,275-square-foot retail destination shopping center located at the northwest corner of Shea Blvd and Pima Rd in Scottsdale, Arizona for $51.5 million. The buyer was YAM Properties, an owner-operator based in Scottsdale. The center is anchored by one of the nation’s largest golf retailers and is also home to several other well-known national and regional tenants.
The seller was an entity formed by Los Angeles-based Karlin Real Estate. Michael Hackett and Ryan Schubert with Cushman & Wakefield in Phoenix represented the seller in the transaction.
“Pima Crossing is an attractive retail investment in a highly sought-after Scottsdale location,” said Michael Hackett. “‘This acquisition provides another in-fill, North Scottsdale asset to a tremendous retail portfolio owned by YAM Properties.”
Originally developed in 1993, Pima Crossing is ideally located in North Scottsdale, at the full-diamond interchange of the Loop 101 Freeway and Shea Boulevard, near the HonorHealth Scottsdale Shea Medical Center.