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.

Scottsdale, Arizona – A first in Arizona, a large-format Mattress Firm, is coming to Scottsdale in the first quarter of 2014. The 23,958-square-foot outlet store will be one of the largest Mattress Firm Supercenters in the country, and will offer buyers a huge selection of mattress choices at outlet prices.

Typically seeking stores between 3,500 and 5,000 square feet, Mattress Firm, a Houston-based company, approached Darren Pitts, Executive Vice President of Velocity Retail Group with a special request; to find a warehouse-sized space in an affluent location with high-traffic, national tenants, and great visibility. The new store, located in Sonora Village at the southwest corner of Frank Lloyd Wright Boulevard and Loop 101, offers all of that and more.

Pitts and Michael Clark, Vice President with Velocity Retail Group of Phoenix, identified the center with co-tenants such as Walmart Supercenter, Sam’s Club, Best Buy, Staples and Kohl’s. The center draws thousands of shoppers every day. The intersection has excellent access to Loop 101 on- and off-ramps at both the Frank Lloyd Wright and Raintree interchanges. The new store’s location also boasts phenomenal visibility to Hayden Road, Frank Lloyd Wright Boulevard, and the Loop 101. Traffic passing the site exceeds 130,000 cars per day.

“Mattress Firm continues to strengthen its leadership position and this location speaks volumes about their continued commitment to the Phoenix marketplace. This dominant flagship, located in North Scottsdale at the convergence of the Loop 101, Frank Lloyd Wright Boulevard, and Hayden Road, will serve the affluent Northeast Phoenix and North Scottsdale trade areas. We were pleased to have secured such a prominent location in this important submarket for our client,” said Pitts.

Founded in Houston, TX in 1986, Mattress Firm is one of the nation’s premier specialty bedding retailers, offering a broad selection of both traditional and specialty mattresses, bedding accessories and related products. With more than 1,200 company-operated and franchised stores across 31 states, Mattress Firm has the largest geographic footprint in the United States among multi-brand mattress specialty retailers.
To reach Pitts and Clark, call (602) 682-8100 for more information.