Updated Jun 8, 2026
Walt Brown Jr. Of Diversified Partners Purchases Development Site In Scottsdale For $25 Million
7501 East Mccormick Parkway
$25,000,000
Building Size
—
Asset Type
Development Site
Closing
Jun 4, 2026
About this deal
AI
A development site located at 7501 East McCormick Parkway in Scottsdale, AZ has been sold for $25,000,000. The asset spans 100,000 square feet, resulting in a price per square foot of $250.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $25,000,000
- Address: 7501 East McCormick Parkway
- Market: Scottsdale, AZ
- BSF: 100,000
- PPBSF: $250
- Buyer: Walt Brown Jr. - Diversified Partners
- Seller: Forever Living Products
Diversified Partners, represented by Walt Brown Jr., acquired the site to develop The Lakefront at Scottsdale, a two-phase project anticipated to commence in the third quarter of 2026. This development will include restaurants, retail spaces, Class A office spaces, and a marina.
Scottsdale Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93