MDC Realty Advisors Sells Two Shopping Centers in Phoenix, Scottsdale for $25.7 Million

by Katie Sloan

Phoenix and Scottsdale, Ariz. — MDC Realty Advisors, a subsidiary of Epic Investment Services, has sold two shopping centers totaling 38,274 square feet in Phoenix and Scottsdale for $25.7 million. Dispositions include Corner on 7th, a 16,202-square-foot strip center located at 527-539 W. McDowell Road in Phoenix; and The Marketplace at Lincoln and Scottsdale, a 22,072-square-foot neighborhood center located at 6560-6590 N. Scottsdale Road in Scottsdale.

Corner on 7th was 93.5 percent leased at the time of sale to Ahi Poke, Wingstop, Vovemeena, Mad Greens, Chipotle Mexican Grill, Zoyo, Cryotherapy for Veterans and Five Guys. The Marketplace at Lincoln and Scottsdale was fully leased at the time of sale to tenants including Mixtures Pharmacy, Herbal Nails & Spa, Wolfson Cardiology, Scramble, Radiant Waxing Salon, S & L Dental and SumoMaya. Patrick Dempsey and Patrick Anthon of JLL represented the seller in the disposition of the properties to an undisclosed institutional buyer. 

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