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Just two days ago, Cushman & Wakefield, a leading global estate services firm, announced the sale of The Shops at Hilton Village. Federal Realty purchased the asset for $37.5 million.
Federal Realty Investment Trust is a leader in the ownership, operation, and redevelopment of retail properties on the east and west coasts. This will be the company’s first acquisition in the Arizona market.
The Shops at Hilton Village is a 92,728 square-foot shopping center located on Scottsdale Rd. At the time of the sale, the property was 96% leased and home to retailers like Houston’s, Nekter Juice Bar, Humble Pie, Chico’s, and more.
In addition to playing host to an array of upscale retailers, the destination is very happily situated. “The Shops at Hilton Village is an irreplaceable retail center located on the border of two of the region’s most prestigious cities, Scottsdale and Paradise Valley,” says Ryan Schubert of Cushman & Wakefield.
Oh, and if you don’t live nearby, you need not worry. The site, which covers roughly 10.61 acres on the northeast corner of Scottsdale Rd and McDonald Dr, is right in the middle of Scottsdale’s “Resort Corridor.” That means it’s adjacent to 43 hotels with over 8,000 rooms—plenty of options to choose from when planning your next weekend getaway.