Currently Investing Over $40 million In Various Scottsdale Properties And Projects
(SCOTTSDALE, Ariz.) – While the effects of the pandemic have brought a halt to various developments and investments throughout the Phoenix Metropolitan area, Stockdale Capital Partners LLC, a Los Angeles-based real estate investment firm with deep roots in Scottsdale is continuing to provide enhancements and improvements to notable projects to help boost the economy and accelerate the local economic recovery.
Stockdale’s founding principals – Steven and Shawn Yari – began investing in Scottsdale in the late 1990s after recognizing the growing demand and appeal for high-quality development throughout the city.
In 2013, Stockdale Capital Partners purchased the Scottsdale Galleria, which once stood as a dilapidated and failed shopping mall near the northeast corner of Scottsdale Road and Camelback. It was subsequently redeveloped into a thriving mixed-use office/retail complex with national technology tenants including Indeed and Yelp. As of this year, Stockdale Capital Partners has spent over $10 million in Galleria renovations and has added over 200 parking stalls to the existing garage to address parking needs in the area.
Last year, Stockdale Capital purchased for approximately $70 million the Class A medical laboratory and office building, formally known as the Henkel Corporate offices at Scottsdale Road and Loop 101. Despite the pandemic, Stockdale has embarked on a $12 million refurbishing effort to attract life science users.
Stockdale Capital has recently made other significant improvements and enhancements to the Old Town Scottsdale area including the purchase of the previously failing Hotel Indigo and after $10 million in renovations was transformed into a successful Aloft Hotel.
In the economically battered Old Town, other major improvements currently underway by Stockdale include a $10 million remodel at the W Hotel (originally built by Stockdale for $122 million), a $4 million remodel for the small retails tenants at the Scottsdale Renaissance Center and early construction work on the Marquee office building located on Scottsdale Road just south of Camelback. Early construction work is also scheduled to begin next month on the company’s Edition Hotel, a nationally renowned brand started by famed designer Ian Scharger. The $150 million project will also be located near Scottsdale Road and Camelback.
Stockdale Capital continues to help diversity the city’s economy with needed investments and new jobs as hospitality and tourism industries continue to struggle with COVID-19.