Canyon Village boasts a strong tenant line-up including Ciao Wine Bar & Bistro, the Village Health Club’s yoga studio, in addition to a number of office tenants in the four buildings. The sale includes the 289-car parking structure at Canyon Village.
DC Ranch, an 8,000 acres masterplanned community created by DMB, opened more than 15 years ago. Over the years, the award winning community has flourished and the area surrounding the community has matured as well. The 2014 median home value within a one-mile radius of Canyon Village was $608,782 – a more than 300% percent difference from the $195,930 2014 median home value for all of metro Phoenix.
Canyon Village, one of the signature commercial properties within DC Ranch, offers tenants and visitors easy access to the 101 Freeway, Pima Road, and into the masterplanned community. DMB planned the sale of the property as part of their business plan to continue to plan, build, lease and sell mixed use properties.
JLL Senior Managing Director Dennis Desmond and Senior Vice President Brian Ackerman represented the property seller, Canyon Village LLC (an entity of DMB). The team was assisted by Alfred Hackbarth, retail investment expert and Senior Vice President of SRS Real Estate Partners, and by JLL office leasing experts, Managing Director John Bonnell and Vice President Brett Abramson.