PHOENIX-Since its purchase in April of this year, the mixed-usedevelopment CityCenter of CityNorth is attractingnew tenants and filling retail vacancies.
Economic and legal issues had plagued the property since itsopening in 2008. Earlier this year, Scanlan Kemper BardCompanies, a real-estate private-equity firm based inPortland, Ore., and private equity firm Wayzata InvestmentPartners of Wayzata, MN purchased the property for $67million, according to the Arizona Republic. The628,000-square-foot property includes 99 condominiums leased asapartments, 330,000 square feet of office space and 175,000 squarefeet of retail space.
Since that time, condo sales and retail leases have picked up.CityNorth Marketing Vice President Leslie Himleysays new office tenants include two dental offices, Desert RidgePediatric Dentistry and Desert Ridge Prosthodontics, which bothopened Sept. 3 and occupy a combined 10,000 square feet. MojoYogurt also opened in August.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
