Upscale neighborhood shopping center within the affluent Kierland master-planned residential and resort area, as well as Scottsdale Airpark, the second-largest employment center in Arizona.
Investment Rationale
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Grocery-anchored, 118,000 square foot property that is leased to a variety of national and regional tenants.
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Located in Scottsdale, AZ, a highly educated and thriving community that has seen a 10 percent increase in population since 2000 and median household incomes among the highest in the nation, with 46% of individuals 25 and older having at least a bachelor’s degree – higher than the state and national averages.
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Phoenix has one of the strongest economies in the nation, ranking sixth out of 147 metros in LaSalle’s US Regional Economic Index report, with a diverse economy and population that is expected to grow at twice the national rate through 2020.
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The property fits well within JLL Income Property Trust’s approach to increase the portfolio’s allocation to high quality, grocery anchored centers in top nationally ranked retail markets.
Property Gallery
Location
![Kierland Map](https://jllipt.imgix.net/uploads/properties/kierland-village-center/map/maps_resized2kierland.jpg?auto=format%2C%20compress&ch=DPR&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&ixlib=php-3.3.1&w=400&s=eca28d33495a3568fc440e8f0032187c)