We’ve had many achievements to celebrate across the Valley in 2013 and today, we have two new announcements to share.
Market Street Sold to Whitestone REIT
Market Street at DC Ranch, one of DMB’s signature commercial properties, was sold to Whitestone REIT. Over the past 10 years, Market Street has been recognized as north Scottsdale’s premier dining and social district.
The property was not on the market, but their team approached us with a purchase offer and the timing was right. Whitestone is active in the Phoenix market and intends to significantly invest in Market Street. This sale will position the property for continued success.
Eastmark Commercial Planning Underway
The planning for the first phase of commercial development at Eastmark is underway and DMB Commercial announced today that it has selected Phoenix Commercial Advisors (PCA) as the exclusive listing broker.
We are accelerating the development of this 45-acre mixed use commercial district at the northeast corner of Ellsworth and Ray Roads to meet the needs of our new Eastmark residents, Apple and BASIS Mesa employees, and the staff and students that will come with Grand Canyon University. The opening of the GCU campus in 2015 will create a shift in the gravity at Eastmark as we bring retail, dining, entertainment, offices, and services to meet those needs.