Scottsdale North Marketplace is a 68,522 square foot grocery-anchored neighborhood center located at the northwest corner of Scottsdale Road and Lone Mountain Road in Scottsdale, Arizona, an affluent city that is part of the Phoenix MSA. Built in 2007-2008, the center is anchored by AJ’s Fine Foods, the high-end gourmet grocery concept started by Arizona-based Basha’s, now a part of the 250-store Raley’s Supermarkets chain. A free-standing Starbuck’s outparcel with drive thru adds another draw to the property.
Scottsdale North Marketplace serves an affluent, growing submarket in the northeast quadrant of the Phoenix MSA, with 21,000 residents and a median annual household income of $120,000 within a three-mile radius. More than 24,000 vehicles per day pass the center on Scottsdale Road, a major north-south artery linking the single-family residence in North Scottsdale with the business centers along the 101 Freeway and Phoenix CBD. Lone Mountain Road, a primary east-west thoroughfare that links the neighborhoods surrounding the property with Scottsdale Road, carries 6,000 vehicles per day.
This submarket is experiencing rapid growth due to demand caused by corporate expansions and relocations to the south along the Interstate 101 freeway – American Express, Mayo Clinic, Arizona State University and National Insurance. To meet this increased housing demand, more than 2,000 single-family and multi-family homes have been announced for the area around the center.