Old Town Scottsdale Apartments Sell for $6.9M to California Buyer

PHOENIX - July 5, 2017 - PRLog -- Estancia, a 62-unit multifamily community at 3620 N. Miller Rd., Scottsdale, sold for $6,900,000 or $172.63 per SF ($111,290 per door).

Lee & Associates brokers Bryson Fricke and Todd Braun represented both the seller, JBC Estancia, Inc., Anaheim, CA and the buyer, The Tides at Old Town, LLC, Beverly Hills, CA. The new ownership will rename the community, The Tides of Old Town and will reposition the property with extensive exterior and interior renovations.

Built in 1957 and renovated in 2006, the unit mix features 32 studios, 6 one-bedroom and 24 two-bedroom units. It is located in the heart of Downtown Scottsdale and is adjacent to Scottsdale Stadium, the spring training home for the San Francisco Giants, walking distance to exclusive shopping, fine restaurants, art galleries and the Scottsdale Center for the Arts at the Scottsdale Civic Center.

For more information:

BRYSON FRICKE | ASSOCIATE

602.912.3521; bfricke@leearizona.com

TODD BRAUN | PRINCIPAL

602.474-9550; tbraun@leearizona.com

http://www.lee-associates.com


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Now in our 26th year, Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, office, retail, investment, multifamily, and land sectors of the Phoenix commercial real estate market. The Phoenix office was established in 1991 and is now recognized as one of the most successful brokerage firms in the state.

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