Cushman & Wakefield recently announced that the firm has brokered the sale of Pima Crossing, a high-quality 238,275-square-foot retail destination shopping center located at the northwest corner of Shea Boulevard and Pima Road for $51.5 million. The buyer is YAM Properties, an owner-operator based in Scottsdale. Anchored by PGA TOUR Superstore, the retail center is home to several well-known national and regional tenants.
The seller was an entity formed by Los Angeles-based Karlin Real Estate. Michael Hackett and Ryan Schubert with Cushman & Wakefield in Phoenix represented the seller in the transaction.
“Pima Crossing is an attractive retail investment in a highly sought-after Scottsdale location,” says Michael Hackett. “This acquisition provides another in-fill, North Scottsdale asset to a tremendous retail portfolio owned by YAM Properties.”
Originally developed in 1993, Pima Crossing is ideally located in North Scottsdale at the full-diamond interchange of the Loop 101 Freeway and Shea Boulevard near the HonorHealth Scottsdale Shea Medical Center. In addition to the PGA TOUR Superstore, key businesses in Pima Crossing include: Cold Beers & Cheeseburgers, Snooze, an A.M. Eatery, Culver’s and Sherwin-Williams Paint Store.
YAM Properties LLC is the Scottsdale real estate investment and development arm of YAM Worldwide, Inc. Launched in 2012, the company currently owns and operates more than 2.5 million square feet of retail and office space. With commercial properties in Mesa, Glendale, Phoenix, Scottsdale, and Tempe, YAM Properties has more than 400 retail and office tenants spanning Greater Phoenix. The YAM Properties portfolio includes: Westgate Entertainment District, 101 & Scottsdale, Agua Caliente, Arrowhead Professional Center, Citadelle Plaza, Cornerstone, Hayden Station, Il Palazzo at Arrowhead Ranch, McDowell Mountain Marketplace, Pima Crossing, Scottsdale Grayhawk Center, Shoppes at Legacy House, Sonora Village, The Shops at Norterra, Village at Shea, Village Center, and YAM Circle. For more information about YAM Properties’ developments and tenants, visit YAMproperties.com.