Scottsdale – A company formed Crow Holdings in Dallas, Tex. (Harlan Crow, chairman) paid $38 million ($245.53 per foot) to purchase a 154,66-square-foot neighborhood shopping center located at the southwest corner of Frank Lloyd Wright Boulevard and Thompson Peak Parkway in Scottsdale. The buyer in the cash transaction was CH Realty VScottsdale LLC (the Crow Holdings entity). The seller was Scotts Horizon Property Inc., a company managed by Hart Realty Advisers in Simsbury, Conn. The cash sale was brokered by Michael Hackett and Ryan Schubert of Cassidy Turley BRE Commercial in Phoenix, and Dan Wald of Cassidy Turley in San Francisco, Calif. The center, called Scottsdale Horizon, is 93 percent occupied. The plaza, which is anchored by Safeway, was developed in 1999. Torrey Briegel and Cameron Warren of Phoenix Commercial Advisors in Phoenix, who assisted the seller in the deal, have retained the leasing assignment. Crow Holdings is a privately-held firm that makes investments on behalf of the Trammell Crow family and its investment partners. The retail acquisition is believed to be the first in the Valley for Crow Holdings. BREW previously has reported the company buying industrial, office and multi-family assets in the Phoenix area. Crow Holdings is looking for additional real estate investment opportunities in the Valley. The contact at Crow Holdings is Tiffany Heidebrecht . . . call her at (214) 661-8000. Talk to Daryl Krivanec of Hart Realty Advisers at (860) 651-2025. Reach Hackett and Schubert at (602) 954-9000. The PCA agents are at (602) 957-9800.
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