CityCenter of CityNorth Sells for $67 Million

Phoenix — The mixed-use CityCenter of CityNorth includes retail, office space and condominium units.

Phoenix — The 630,000-square-foot CityCenter of CityNorth, a mixed-use development in Phoenix’s Desert Ridge master-planned community, has sold for a reported $67 million. Portland, Ore.-based ScanlanKemperBard and a private investment fund managed by Wayzata Investment Partners LLC through the newly formed City North Associates LLC purchased the property. Completed in 2008, the project includes 175,000 square feet of retail, 99 condominium units, 330,000 square feet of office space and nearly five acres of undeveloped land. Chris Krewson and Mike Garlick of Lee & Associates represented the buyer in the transaction. Ryan Gallagher, CJ Osbrink, Ryan Fitzpatrick, Bryan Ley, Jim Batjer and Mark Wintner with HFF represented the undisclosed seller.

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