DMB associates, Inc. sold the Canyon Village development at 18801-18899 N. Thompson Peak Pky in Scottsdale, AZ for $18.7 million, or about $199 per square foot, to Laurus Corporation, a California-based property investment firm.
The four-building, mixed-use development totals 93,980 square feet on approximately 5.6 acres in the Scottsdale’s Airpark submarket. The properties offer ground floor retail space, were built in 2008, and were 76 percent occupied at time of sale.
Dennis Desmond and Brian Ackerman of JLL, along with Alfred Hackbarth of SRS Real Estate Partners, represented the seller in the sale.