Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of Scottsdale Mountainside Shops at 10855 N 116th Street in Scottsdale, Ariz. Tom Semancik of CPI’s Investment Specialist Team represented the seller, Van Vliet Acquisitions IV.
The ±16,702 SF property was built in 2004 and is located just north of Shea Boulevard and east of Frank Lloyd Wright Boulevard in the Mountainside Plaza Subdivision. Tom Semancik commented, “The buyer was motivated by the future potential of the center being just off Shea Boulevard, and existing tenants on the property. His intention is to change the makeup of the center to include more destination type tenants that can feed off traffic going to Mountainside Fitness, and the newly opened Cheeseburgers & Cold Beer.”
The new owner, Mountainside Plaza LLC, represented himself and purchased the multi-tenant property which closed at just over $2 million.