PHOENIX, Arizona – Cushman & Wakefield completed the sale of The Shops at Gainey Village, a Sprouts Farmers Market anchored urban village located in Scottsdale, Ariz. An entity formed by Global Retail Investors purchased the property from Gainey Village Retail Center, LLC (an entity formed by Principal Real Estate Investors, LLC) of Des Moines, Iowa.
Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.
The Shops at Gainey Village is a 138,476 square-foot shopping center located at the southeast corner of Scottsdale Road and Doubletree Ranch Road. This trophy retail shopping center is 100% occupied and services the well-established, affluent neighborhoods of Scottsdale and Paradise Valley.
“The Shops at Gainey Village is one of the more sought-after retail assets in the Southwest, offering daily needs shopping in a supply constrained and internationally recognized Scottsdale/Paradise Valley location,” said Executive Managing Director Michael Hackett.