SCOTTSDALE, AZ-Houston-based Whitestone REIT has purchased the Desert Canyon Shopping Center at the crossway of 105th Street and East McDowell Mountain Ranch Road in Scottsdale for an amount of $3.7 million. The shopping center contains a 62,500-square-foot leasable space.
The Desert Canyon Shopping Center was 65% occupied during the time of sale. This is the third off-market purchase for the REIT since September 2010. Whitestone purchased the property from an undisclosed regional bank.For the full story, go to Phoenix Business Journal.
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