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Colliers negotiates sale of new retail property in Scottsdale for $3.5 million

YC’s Mongolian Grill owner purchased building, plans additional restaurant

Phoenix, March 17, 2021 – The newly completed retail property at 14850 N. 87th Street in Scottsdale, Arizona, sold for $3.5 million. The local owners of YC’s Mongolian Grill purchased the property and plan to relocate their former Pavilions Talking Stick restaurant to the building’s northern end-cap.

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.

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Brian Woods

Senior Vice President

Phoenix

As senior vice president with the Arizona Retail Services team with Colliers, Brian Woods specializes in leasing regional power centers and representing national retail tenants throughout Arizona. His knowledge of the Valley, coupled with his professionalism and ingrained ability to quickly understand a client’s needs, have translated to a formula for consistent success.

A Phoenix native, Brian is a third-generation commercial real estate broker, following grandfather Don Woods and father Tommy Woods.

Keeping integrity and character at the top of the priority list, his team has developed enduring relationships and established a strong reputation as industry leaders throughout the marketplace. By taking a personal interest in each and every client, Brian and Tom attempt to treat our clients’ investments as if they were their own. This approach of accountability has led to a proven track record of results.

Countless retail tenants have entrusted their team to handle their real estate requirements. Well-known developers and landlords frequently press them into service. Refer to their comprehensive client list below.

Prior to joining Colliers in 2003, Brian was an account executive for the Phoenix Coyotes Hockey Club, with responsibility for season ticket sales, luxury suite sales and account management.

Brian and his wife Anna are the parents of son Bo and daughter Maisy. They attend Highlands Church in Scottsdale and are ardent supporters of the Southwest Autism Research & Resource Center (SARRC), Compassion International, Hope & A Future, K-LOVE, and Brokers for Kids.

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