Switching Accounts please wait...
Generating Advisor Account please wait...

High Street development in Phoenix could be up for sale

By Mike Sunnucks
Phoenix Business Journal

The High Street development in Phoenix could soon be up for sale.

The suburban development was originally called CityNorth. It is next to Desert Ridge Marketplace in north Phoenix near Loop 101 and Tatum Boulevard.

CityNorth was foreclosed on in 2010.

Portland-based ScanlanKemperBard Cos. and Wayzata Investment Partners bought the development from the bank for $67 million in 2013. They rebranded the development as High Street

Now, they are looking at possibly selling the mixed-use development which includes apartments, restaurants and bars and some office space including Sprouts Farmers Market’s (Nasdaq: SFM) corporate headquarters.

High Street’s owners are looking to hire brokers from the CBRE commercial real estate firm to sell the 628,000-square-foot development.

SCROLL