Southbridge II property in Old Town Scottsdale sells for $38M

Dec 27, 2021, 4:35 AM | Updated: 8:14 am
(LGE Design Group)...
(LGE Design Group)
(LGE Design Group)

PHOENIX – Ownership of about 4½ acres in Old Town Scottsdale recently changed hands, opening a new chapter for the property known as Southbridge II.

A group led by the founding partners of developer Creation RE purchased the land from the Unger family for $38 million, according to a press release.

The sale covers a three-site cluster south of the Arizona Canal between Goldwater Boulevard and Scottsdale Road.

Phoenix-based Creation partnered with real estate companies Crescent Commercial and FCP on the deal.

The Ungers had previous plans to use the property for a multi-use development as a sequel to their nearby Southbridge project, which opened in 2007.

But local property owners repealed Southbridge II zoning approvals through a referendum drive.

“We fully understand the sensitivities and dynamics of these properties and this neighborhood,” Creation co-founder Bob Agahi said in the release. “That’s why our capital and approach will be a patient one.”

Agahi said the ownership group would start out by getting input from city officials and community groups.

Whatever the project turns out to be, LGE Design Build will design it with Perkins+Will as the architect. LGE Design Build is owned by Creation co-founder David Sellers.

Creation’s previous work includes projects in the downtown areas of Gilbert and Chandler as well as in north Scottsdale.

“It was very important to me and my family’s legacy to find the right custodians for these signature properties,” Carter Unger, who has been leading the family’s real estate operations since the 2018 death of his father, Fred, said in the release. “We believe we have found those people.”

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(AP Photo/Ross D. Franklin)...

Arizona Secretary of State’s Office files lawsuit against Cochise County over elections

Arizona Secretary of State Katie Hobbs' Office filed a lawsuit Monday evening against the Cochise County Board of Supervisors.
22 hours ago
(Queen Creek Photo)...

Ground broken on next phase of Mansel Carter Oasis Park in Queen Creek

Ground has been broken on the next phase of a park in Queen Creek that is expected to be completed by late next year.
22 hours ago
(Arizona Department of Transportation Photo)...
Kevin Stone

Weeknight closures on I-17 north of Phoenix will impede traffic for months

Interstate 17 north of Phoenix will be closed several nights a week well into next year so crews can blast rocks to make space for new lanes.
22 hours ago
(Facebook Photo/Maricopa County)...

Maricopa County certifies 2022 midterm election, leaving Cochise as lone holdout

Maricopa County certified the 2022 midterm election, leaving Cochise County as the lone holdout ahead of Monday's deadline.
22 hours ago
(Photo by Christian Petersen/Getty Images)...
Danny Shapiro

Ron Wolfley says Arizona Cardinals were hard-luck losers against Chargers

The Arizona Cardinals lost a heartbreaker on Sunday to the Los Angeles Chargers, a defeat Ron Wolfley said was tough luck.
22 hours ago
(Facebook Photo/U.S. Dog Agility Association)...

Dogs will have run of the place in Scottsdale at Agility World Games

There will be no dogging it this week in Scottsdale when nearly 500 of the most athletic canines in the country will compete to be the best at the Cynosport Dog Agility World Games.
22 hours ago

Sponsored Articles

(Photo via MLB's Arizona Fall League / Twitter)...
Arizona Fall League

Top prospects to watch at this year’s Arizona Fall League

One of the most exciting elements of the MLB offseason is the Arizona Fall League, which began its 30th season Monday.
Quantum Fiber

How high-speed fiber internet can improve everyday life

Quantum Fiber supplies unlimited data with speeds up to 940 mbps, enough to share 4K videos with coworkers 20 times faster than a cable.
Children’s Cancer Network

Children’s Cancer Network celebrates cancer-fighting superheroes, raises funds during September’s Childhood Cancer Awareness Month

Jace Hyduchak was like most other kids in his kindergarten class: He loved to play basketball, dress up like his favorite superheroes and jump as high as his pint-sized body would take him on his backyard trampoline.
Southbridge II property in Old Town Scottsdale sells for $38M