PHOENIX, December 17, 2019 – Cushman & Wakefield completed the sale of The Shops at Gainey Village, a Sprouts Farmers Market anchored urban village located in Scottsdale, Ariz. An entity formed by Global Retail Investors purchased the property from Gainey Village Retail Center, LLC (an entity formed by Principal Real Estate Investors, LLC) of Des Moines, Iowa.
Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.
The Shops at Gainey Village is a 138,476 square-foot shopping center located at the southeast corner of Scottsdale Road and Doubletree Ranch Road. This trophy retail shopping center is 100% occupied and services the well-established, affluent neighborhoods of Scottsdale and Paradise Valley.
“The Shops at Gainey Village is one of the more sought-after retail assets in the Southwest, offering daily needs shopping in a supply constrained and internationally recognized Scottsdale/Paradise Valley location,” said Executive Managing Director Michael Hackett.
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Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.