(For more retail coverage, click GlobeSt.com/RETAIL.)
SCOTTSDALE, AZ-The unanchored 35,083-sf Palo Verde Square on thehighly desirable north side has changed hands, with an Encino, CApartnership putting up $8.6 million for the 91%-leased center.
The new owners, Aric Browne and Ethan Christopher, plan to leasethe balance of the shopping center at 10953 N. Frank Lloyd WrightBlvd. and hold it long term, according to Sanford Burstyn seniorinvestment associate and director of the national retail group forMarcus & Millichap Real Estate Investment Brokerage Co.'sPhoenix office.
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