YC’s Mongolian Grill owner purchased building, plans additional restaurant
GW Raintree, LLC of Scottsdale was the purchasing entity, buying the property from 101 Mega Raintree, LLC of Scottsdale. Brian Woods of Colliers in Arizona handled the sale transaction.
The 8,424-square-foot building was completed in 2020, and sits on 1.14 acres of land. The project is located conveniently between the Loop 101 and the Scottsdale Airpark. YC’s Mongolian Grill will join Sweetwaters Coffee & Tea and G.O.A.T. Haircuts in the building.
“The buyer was looking for a North Scottsdale investment opportunity where they could open a new restaurant,” said Brian Woods with Colliers in Arizona. “This property checked all the boxes and was a win-win for both buyer and seller.”
101 Mega Raintree was developed by Scottsdale developer Jim Riggs and is a 15-acre mixed use project on the southwest corner of Raintree and 10, just north of Kohl’s. It includes a Public Storage project recently completed by Wentworth, a 320-unit luxury multi-family project under construction by Wood Partners, and a multi-tenant retail building.
According to Riggs, "Colliers has been excellent to work with and Brian has handled leasing and sales admirably."
About Colliers International
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.
Colliers in Arizona has served clients locally and globally for more than 40 years.