Sale of AJ’s center at Lincoln and Scottsdale Roads may bring new use

Business Real Estate Weekly by Rose Law Group

Scottsdale – In a deal set to close at press time, a company formed by Jim Shough in Phoenix is expected to pay $25 million ($330 per foot) to buy a retail center located at the southwest corner of Scottsdale Road and Lincoln Drive in Scottsdale. The new owner is considering all possibilities for the 7.25-acre property, including a major renovation with retail and residential uses. The 74,744-square-foot plaza is comprised of five buildings, including 31,000 sq. ft. occupied by AJ’s Fine Foods at 7141 E. Lincoln Drive. Shough’s entity is purchasing the Scottsdale shopping center in a 1031 Exchange after selling the South Mountain Crossing retail plaza in Phoenix. Continued

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July 31, 2014

Office Buildings, real estate, Scottsdale

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Sale of AJ’s center at Lincoln and Scottsdale Roads may bring new use

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Sale of AJ’s center at Lincoln and Scottsdale Roads may bring new use

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