Photos courtesy of YAM Properties
The Scottsdale 101 shopping center, located on the southwest corner of Scottsdale Road and the Loop 101, is scheduled for auction on June 4, as announced by the Arizona Land Department. The auction will include the 75-acre site that houses the center, currently valued at $28.3 million.
Established on state land in 2003, Scottsdale 101 features over 55 businesses, with prominent tenants such as Home Depot, Harkins Theatres, and Dick’s Sporting Goods. The property operates under a long-term ground lease initiated in June 1999, set to expire in 2098.
Owned by YAM Properties, the commercial real estate firm headed by ex-GoDaddy CEO Bob Parsons, the center was acquired in 2016 for $81 million. The upcoming auction is part of the Arizona State Land Department’s strategy to generate funds for the Permanent Land Endowment Fund, benefiting Arizona’s educational and state assets.
In addition to the shopping center, the auction will include a narrow strip of land extending three miles north to Pinnacle Peak Road. This right-of-way is expected to be granted to the city of Scottsdale for infrastructure purposes once the auction concludes.
The impending auction reflects a broader trend of managing state land for commercial development and investment in community resources. As the auction date approaches, the outcome could significantly influence the future of both Scottsdale 101 and the surrounding areas.
