Staff Reports | Business & Construction
Cushman & Wakefield has announced the sale of a retail property at 11250 E. Via Linda in Scottsdale for $5.8 million.
The firm represented the seller, COMU LLC, in the transaction. P&B Holdings IV LLC acquired the property, according to a press release. The transaction was brokered by Chris Hollenbeck and Shane Carter of Cushman & Wakefield’s Phoenix office.
Walgreens is the sole tenant of the 15,120-square-foot building, which was built in 2000.
“This was a nuanced transaction that required a targeted approach and a deep understanding of both the investment landscape and the local market,” Chris Hollenbeck, vice chair at Cushman & Wakefield, said. “Single-tenant Walgreens assets have faced increased scrutiny from investors, so it was important to identify buyers who recognized not only the strength of the Scottsdale location and underlying real estate, but also the property’s long-term potential.”
Mr. Hollenbeck and Mr. Carter ultimately secured a local buyer with an established track record, providing the seller with confidence in the buyer’s ability to complete the transaction.
The sale reflects continued investor interest in retail properties in the greater Scottsdale market, particularly those located at high-visibility intersections with long-term redevelopment or investment potential.
