Commerce

YAM buys Scottsdale Pima Crossing shopping center for $51.5M

Posted 1/14/21

YAM Properties, an owner-operator based in Scottsdale founded by Bob Parsons, purchased retail shopping center, Pima Crossing for $51.5 million.

Brokered by Cushman & Wakefield, the sale adds …

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe.

For $5.99, less than 20 cents a day, subscribers will receive unlimited access to the website, including access to our Daily Independent e-edition, which features Arizona-specific journalism and items you can’t find in our community print products, such as weather reports, comics, crossword puzzles, advice columns and so much more six days a week.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor
Commerce

YAM buys Scottsdale Pima Crossing shopping center for $51.5M

Posted

YAM Properties, an owner-operator based in Scottsdale founded by Bob Parsons, purchased retail shopping center, Pima Crossing for $51.5 million.

Brokered by Cushman & Wakefield, the sale adds one more Scottsdale property to the Yam Properties portfolio.

Pima Crossing is a 238,275-square-foot retail destination shopping center at the northwest corner of Shea Boulevard and Pima Road in Scottsdale.

The center is anchored by one of the nation’s largest golf retailers and is also home to several other well-known national and regional tenants.

The seller was an entity formed by Los Angeles-based Karlin Real Estate, according to a press release. 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,” said Mr. Hackett in a prepared statement. “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 located in northern Scottsdale, at the full-diamond interchange of the Loop 101 Freeway and Shea Boulevard, near the HonorHealth Scottsdale Shea Medical Center.

YAM Properties is a part of the YAM Worldwide enterprise founded by Scottsdale resident, Mr. Parsons.

According to the YAM Properties website, the group owns four other Scottsdale commercial retail centers, among others.

Comments