DMB Commercial is pleased to announce that Market Street at DC Ranch has been sold to Whitestone REIT. This signature neighborhood center was built early in the development of the DC Ranch community to provide a variety of distinctive shops and boutiques, restaurants, neighborhood conveniences and offices all intimately tied together. The center’s unique design embodies that rustic, yet elegant feel of DC Ranch. Over the past 10 years, Market Street has been recognized as North Scottsdale’s premier dining and social destination.
Whitestone REIT, a national real estate company that specializes in redeveloping Community Centered Properties, approached DMB with an unsolicited offer to purchase Market Street. DMB Commercial develops and manages these signature properties and prepares them for sale at the optimal time in their lifecycle. Over the past three years, Market Street has grown and stabilized, making this a perfect opportunity for the sale of the property. Whitestone’s unique expertise will allow Market Street to continue to grow and serve the larger community in the coming years. We look forward to celebrating the holidays and all of Market Street’s special events in the future, under this new ownership.
Looking ahead, DMB Commercial is working on the first phase of commercial development at Eastmark, the newest DMB masterplanned community, located in Mesa, Arizona. Development plans are underway for this 45-acre mixed use commercial center to support the needs of local neighborhoods, a future GCU campus, and employers.