A partnership formed by Hannay Realty Advisors (www.hannayra.com) is pleased to announce that they have closed on the purchase of The Marketplace at Lincoln and Scottsdale, a 22,081 square foot high-end retail center constructed in 2014, which has quickly become home to some of the hottest local eateries. Tenants at the property include Sumo Maya Mexican-Asian Kitchen, Vivo Ristorante, Scramble, and Opus Bank. The property is located on Scottsdale Road and Lincoln Drive, one of the most recognizable intersections in the Phoenix metropolitan area and the gateway to the affluent Paradise Valley community.
With this acquisition, Hannay has now acquired over $400 million in commercial real estate assets in the past 36 months. “The Marketplace at Lincoln and Scottsdale is a very well located, brand new high-end retail asset that provides stable cash flow for our investors and is an excellent addition to our Arizona portfolio. We are actively looking for future acquisition and co-investment opportunities in Arizona and throughout the western US, with a focus on quality retail centers and core to core plus office properties”, said company president Craig Hannay.
ABOUT HANNAY REALTY ADVISORS
Hannay Realty Advisors is a 25-year old privately-owned commercial real estate services and investment firm based in Phoenix, Arizona. The company currently manages approximately 12 million square feet of commercial properties with offices in Arizona, California, Colorado, Washington, and Nevada. Hannay’s unique ability to co-invest with its investors, when required, provides greater flexibility and additional opportunities for their acquisitions program. Hannay’s management and investment expertise in retail, office, and industrial properties makes them one of the industry leaders in the western United States. Hannay Realty Advisors provides “Institutional Resources and Local Market Knowledge.”
The leasing and property management contact for The Marketplace at Lincoln and Scottsdale is Craig Hannay (602) 374-2000. For commercial real estate acquisition opportunities, the contact is Christopher Lacasse, at Hannay’s headquarters in Phoenix, Arizona, (602) 374-2000.