CBRE has arranged the $22.15 million all-cash sale of Scottsdale Commons, a Class A shopping center located at Scottsdale Road and Shea Boulevard in Scottsdale to Houston-based Whitestone REIT.
REIT stands for Real Estate Investment Trust. It is a company that manages already developed, income producing properties.
Joseph Compagno and Benjamin Farthing with CBRE represented the seller, Trojan Development Associates III, LLC, as well as Whitestone REIT in the transaction, according to a press release.
