Pivot Development landed a $42.5 million equity placement for the Papago Marketplace, a 55,000-square-foot retail center in Scottsdale. JLL Capital Markets arranged the financing. A Sprouts grocery store will anchor the center.
JLL represented Pivot Development Company in securing the equity placement on behalf of an institutional investor. Managing Director Patrick Dempsey and Analyst Quin Madden led the JLL Capital Market Advisory team.
Papago Marketplace is located at the southwest corner of Scottsdale and McDowell Rd. The development sits on a 4.57-acre site, and approximately 60,000 vehicles pass by daily. The project is currently 80% pre-leased.
Managing Director Patrick Dempsey and Analyst Quin Madden led the JLL Capital Market Advisory team.
Construction on Papago Marketplace is expected to begin in August 2025 with an anticipated completion date of August 2026.
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