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Scottsdale, Ariz. — Ziff Real Estate Partners (ZRP) has acquired Mercado at Scottsdale Ranch, a 118,751-square-foot retail center located in the Phoenix suburb of Scottsdale. Whitestone REIT sold the property for $26.5 million. Tenants at the center, which is situated on 11 acres, include Planet Fitness and Walgreens. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller in the transaction, and Christian Chamblee and Kayla Meier represented ZRP on an internal basis. This marks ZRP’s first purchase in Arizona.