Scottsdale Quarter sold for $645M, one of Arizona's biggest ever deals https://t.co/dlPchOPKbd
See-Through Home on Martha’s Vineyard Hits the Market for $33 Million https://t.co/NbmdX3qS3W
A Spanish Home With Hollywood Ties, a Nantucket Charmer and More https://t.co/0QSVEZpc3s
Scottsdale Quarter, a 755,000-square-foot open-air shopping and mixed-use complex in north Scottsdale, has been sold for roughly $645.1 million, one of the largest real-estate transactions in Arizona history. The buyer is FalconEye Ventures, an investment firm founded by CrowdStrike chief executive officer George Kurtz. FalconEye said it will invest a further $100 million to upgrade the property, aiming to position the center as a SoHo-style destination for luxury retail, chef-driven restaurants and technology firms. Phoenix-based Vestar, which manages several area centers, will operate the site under a long-term partnership with FalconEye. Developed in the mid-2000s, Scottsdale Quarter spans almost 600 residences, about 300,000 square feet of office space and more than 100 shops and eateries, including brands such as Sephora, Lululemon and Restoration Hardware. The acquisition follows a wave of big-ticket deals in the Phoenix metro area, including the $865 million sale of JW Marriott Phoenix Desert Ridge Resort & Spa in May and last year’s $705 million purchase of the Arizona Biltmore.