North Scottsdale Shopping Center Sonora Village Sells for $72.5 Million

SCOTTSDALE, AZ – The Fincham Dempsey Team at Lee & Associates sold the Sonora Village retail shopping center for $72.5 ($269 PSF). The property is located at the SWC of Frank Lloyd Wright Blvd. and Loop 101 in North Scottsdale.

The team, led by Principals Jan Fincham and Pat Dempsey, facilitated the transaction on behalf of both the buyer, Sonora Village LLC, controlled by YAM Special Holdings and the sellers, Sonora Village Investors, LLC, a company controlled by Ryan Denk and Bob Mariash and SimonCRE ABBIE II, LLC, a company controlled by Josh Simon of SimonCRE and Ryan Denk.

“The property is attractive because of the strategic location in the affl uent North Scottsdale trade area as well as the customer draw from the dynamic tenant mix which includes major anchor tenants and multiple entertainment venues. The property benefi ts signifi cantly from the proximity to Scottsdale Airpark and the 50,000-plus daily employees in the area who shop and dine at the property,” said Fincham and Dempsey.

Sonora Village is a Class A regional power and entertainment center built in 1986. The sale consists of 269,369-square-feet which includes the newly developed 6,000-square-foot Zen Asian Kitchen, Advanced Auto, El Pollo Loco and Chase Bank.

Notable tenants also include Best Buy, Staples, Party City, Pearle Vision, Aaron Rents, Mattress Firm and Wildfl ower Bakery. Sonora Village also features an entertainment component with Studio Movie Grill, O.H.S.O. Brewery, Four Peaks Brewery, Peter Piper Pizza, Skeptical Chemist, Potbelly Sandwich Shop and Rubio’s Mexican Grill.

For more information, Dempsey should be reached at 602.954.3772, Fincham can be contacted at 602.954.375, or Andrew Lundahl is at 602.385.3799.