Cushman & Wakefield announce sale of Scottsdale Design District

Scottsdale Design Center (Submitted photo)

Cushman & Wakefield announces the sale of Scottsdale Design District, a 109,652-square-foot boutique showroom.

Located on the corner of East Thomas Road and North 68th Street in Scottsdale, the property is known as a direct-to-trade marketplace for Metro Phoenix interior designers, according to a press release.

Cushman & Wakefield’s Chris Toci, Chad Littell and Brent Mallonee arranged the transaction on behalf of the seller. The purchasers were introduced to the asset by Brandon Holdings, the sponsor, and IX Advisors LLC, a real estate advisory based in Seattle.

Key investors included Stephen Summers, president of Mockingbird Interests and principal investor in Highland Park Village in Dallas and the Lego Building in Aspen, Colorado, and a Hong Kong family office that anchored another major acquisition in the Metro Phoenix area this year, noted the release.

“This location is well known in the design community as the go-to place for high-end home furnishings and art. This is our second transaction with the investment sponsor Brandon Holdings and IX Advisors in 2018, and we are glad they see the same value and potential in the Phoenix market as we do,” said Cushman & Wakefield Executive Managing Director Chris Toci in a prepared statement.

This asset was selected for meeting necessary criteria, including its tenant base and location, stated David Austin and Malia Chui, partners with IX Advisors, noting the interest in acquiring an “experiential retail-style center for some time.”

Scottsdale Design District is occupied by local and nationally recognized interior designers, art dealers, and retailers, including John Brooks, Pindler & Pindler, Century, Town, and Kravet, the release added.

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