YAM Properties LLC bought the Shops at Norterra retail center in Phoenix for $108 million in cash from Red Development LLC, azcentral.com reported, citing public real estate records.
The open-air shopping and restaurant development houses over 50 retailers, restaurants and personal service businesses. YAM has plans to add more tenants including Sephora and State 48 Brewery.
Red Development acquired the development for $78 million in 2017, according to the report.
