 |
| Jim Riggs |
PHOENIX,
June 22, 2020 – JLL Capital Markets announced today that it has closed the $6.65 million sale of 16640 North Scottsdale Road., a nearly
two-acre site purchased primarily for land value that currently houses a
15,000-square-foot retail center at the coveted intersection at Frank Lloyd
Wright and Scottsdale Road in Scottsdale, Arizona.
JLL marketed the property on behalf of the seller, Amiel Properties, LLC. A joint venture lead by Jim Riggs, who partnered with Keith Mishkin
JLL marketed the property on behalf of the seller, Amiel Properties, LLC. A joint venture lead by Jim Riggs, who partnered with Keith Mishkin
(Cambridge Properties) and Angelo Giudice (Magna Legacy), purchased the
asset.
 |
| Brian Ackerman |
Situated
on 1.885 acres, 16640 North Scottsdale Rd. is at an infill location on
the southwest corner of the intersection at Scottsdale Road and Bell Road/Frank
Lloyd Wright Boulevard in the northern part of Scottsdale, an affluent Phoenix
suburb that has the highest median housing price of any of the large Valley
cities.
The property is surrounded by trophy office
buildings, resorts and other world-renowned amenities, including the Tournament
Players Club (TPC) golf course, which is the home of the Phoenix Waste
Management Open. The buyer is still finalizing future plans for the site.
“We
are close to announcing our plan for a truly Iconic project complimenting the
adjacent Frank Lloyd Wright Spire,” said Riggs, who NAIOP named Developer of
the Year three times. “Expect a mixed-use plan with a large residential
component."
The
JLL Capital Markets team was led by Managing Director Brian Ackerman.
 |
| Keith Mishkin |
“This
location is one of a handful of true trophy locations in metropolitan Phoenix,
and the opportunities are plentiful for redevelopment,” Ackerman said.
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment advisory, debt
placement, equity placement or a recapitalization.
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For
more news, videos and research resources on JLL, please visit the firm’s U.S.
media center Web page: U.S. newsroom.
About
JLL
JLL
(NYSE: JLL) is a leading professional services firm that specializes in real
estate and investment management.
JLL shapes the future of real estate for a
better world by using the most advanced technology to create rewarding
opportunities, amazing spaces and sustainable real estate solutions for our
clients, our people and our communities.
 |
| Angelo Giudice |
JLL is a Fortune 500 company with
annual revenue of $18.0 billion, operations in over 80 countries and a global
workforce of more than 94,000 as of March 31, 2020.
JLL is the brand name, and
a registered trademark, of Jones Lang LaSalle Incorporated. For further
information, visit jll.com.
For
more news, videos and research resources on JLL, please visit the firm’s U.S.
media center Web page: U.S. newsroom.
Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to
being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones
Lang LaSalle Americas, Inc.
CONTACT:
Kimberly
Steele
JLL Senior Associate
Public Relations
Phone: +1
713 852 3420
Email: Kimberly.Steele@am.jll.com
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