Los Arcos developer sought

The lender for Los Arcos Crossing in south Scottsdale took ownership of the failed shopping center last week and plans to market it to developers. ML Manager LLC got the property after no bids were made at a trustee sale Thursday, said Mark Winkleman, chief operating officer of the Peoria firm, which will interview real-estate brokers this week to select one to start marketing the 14-acre parcel in September, he said. The potential sale of the property, in the heart of the McDowell Road corridor, comes as the city pushes for redevelopment of the area that has lost auto dealers, grocery stores and other retailers as growth moved north. The city is inviting developers' proposals for 3.7 vacant acres between Los Arcos Crossing and SkySong, the ASU Scottsdale Innovation Center. At least three developers have said they are interested in assembling most, if not all, of the nearby property to create a larger project. "The city realizes there is likely more value in (parcels) being combined," economic-vitality specialist Mark Hunsberger said last month.

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