Adding to their national portfolio, commercial real estate developer SimonCRE announces the purchase of a hometown property this week. 

Located on the northeast corner of Scottsdale and McDowell Roads, the newly acquired 3,200 square foot building, is a single tenant commercial property. There are no development plans currently in place for the building, which is home to one of the Scottsdale locations for Palm Beach Tan.

“We’re excited to have the opportunity for a long term investment in our community,” says Joshua Simon, president of SimonCRE. “We feel this property is a great investment for our portfolio as this area of town connects Scottsdale and Tempe. The whole neighborhood has experienced a lot of growth over the past few years. We anticipate that this growth will continue, especially with the robust ASU campus nearby.”