JLL acquires Scottsdale center
JLL Income Property Trust has purchased the Kierland Village Center in Scottsdale, Arizona, for $34.5 million. Kierland Village is an upscale development in the Phoenix suburb, which has seen a near 10% rise in population since 2000.
The 118,000-sq.-ft. neighborhood center is anchored by Safeway and houses Walgreens, Einstein Brothers, Pizza Hut, Panda Express, and a UPS Store.
The acquisition is in line with JLL’s current appetite for active, necessity-based centers.