Zocallo Plaza

Cushman & Wakefield Negotiates Sale of Trophy Strip-retail Shopping Center

PHOENIX, June 14, 2016 – Cushman & Wakefield announced today the sale of Zocallo Plaza, a 51,195 square foot (sf) strip-retail shopping center located on Scottsdale Road, between Greenway-Hayden Loop and Tierra Buena Lane in Scottsdale, Ariz. for $15.55 million.

Cushman & Wakefield Executive Managing Directors Ryan Schubert and Michael Hackett represented the seller, Enright Zocallo LP. The buyer was undisclosed.

Built in 1999, Zocallo Plaza is currently 100% occupied by a diverse, specialty tenant roster, including Corner Bakery Café, Pella Windows, Desert Schools Credit Union and Classy Closets to name a few. The property spans 4.02 acres and offers excellent frontage and visibility along Scottsdale Road, considered to be one the best in the Valley.

“Zocallo Plaza offered investors an extraordinary opportunity to acquire a retail center in the world-renowned Scottsdale/Kierland area surrounded by premier retail at Scottsdale Quarter and Kierland Commons, in addition to an explosion of high-density luxury housing,” according to Executive Managing Director Michael Hackett.

Zocallo Plaza is located within the Kierland Master Planned Community, a 730-acre community that includes the Westin Kierland Resort and Golf Club, 216-acres of residential space, 107-acres of commercial/retail space, 123-acres of commercial/office space and 11-acres of parks and open space. Additionally, Kierland Commons and the Scottsdale Quarter are adjacent to the property, both of which offer high-end retail shopping and dining options.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.