Darren Pitts, Dave Cheatham and Pat Jones of Velocity Retail Group recently closed the sale of the former Bandera restaurant building located at 3821 North Scottsdale Road in Scottsdale, Arizona.
Velocity Retail Group represented the Seller, Phoenix-based Hillstone Restaurant Group. The buyer was FBS Real Estate, LLC who was represented by Charles Skaggs of Western Retail Advisors. The existing building is approximately 4,813 square feet situated on a parcel of approximately 18,167 square feet. The property closed escrow at the end of December 2021.
“This is an iconic building in Old Town Scottsdale and is located at one of the premier intersections within the entertainment district,” said Darren Pitts, Executive Vice President at Velocity Retail Group. “We had multiple offers on the property from credible users and investors. We are pleased with the process and the outcome for our client”.
Hillstone Restaurant Group began in 1977 with the first Houston’s restaurant in Nashville, Tennessee. The company has grown to 41 locations throughout 12 states and has 15 different restaurant concepts. They have maintained their reputation by providing inspired settings, graceful service and cuisine that is consistently delicious.