Hannay Realty Advisors announce purchase of The Marketplace

Hannay Realty Advisors (Submitted Photo)

Hannay Realty Advisors (Submitted Photo)

A partnership formed by Hannay Realty Advisors has announced they have closed on the purchase of The Marketplace at Lincoln and Scottsdale, a 22,081-square-foot, retail center constructed in 2014, which has quickly become home to some of the hottest local eateries, a press release contends.

Tenants at the property include Sumo Maya Mexican-Asian Kitchen, Vivo Ristorante, Scramble, and Opus Bank, the release states.

The property is at Scottsdale Road and Lincoln Drive, one of the most recognizable intersections in the Phoenix metropolitan area and the gateway to the Town of Paradise Valley.

With this acquisition, Hannay has now acquired over $400 million in commercial real estate assets in the past 36 months, the release states.

“The Marketplace at Lincoln and Scottsdale is a very well located, brand new high-end retail asset that provides stable cash flow for our investors and is an excellent addition to our Arizona portfolio. We are actively looking for future acquisition and co-investment opportunities in Arizona and throughout the western US, with a focus on quality retail centers and core to core plus office properties,” said company president Craig Hannay.

The Scottsdale Independent is published monthly and mailed to 75,000 homes and businesses in Scottsdale.

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