The recent sale of Agave Center at $9.775 million sale and 6.2% CAP, brokered by Colliers International, represents a record per-square-foot rate for an unanchored Scottsdale shopping center. The 2.46-acre shopping complex, with 16,038 square feet of retail space and positioned at the highly trafficked intersection of Scottsdale Road and Acoma Drive, is 100% occupied by local and national credit tenants.
“The Scottsdale market is one of the hottest commercial and residential markets in the country,” says Eric Carlton, executive vice president at Colliers. “Retail centers are still alive and thriving in the COVID era, and buyers can find tremendous opportunity. Out-of-state capitol continues to flow into Arizona. Agave Center showcases the return available for retail property owners looking to sale assets under the current market conditions.”