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$1.5M Cave Creek Shopping Center Renovation Nears Completion

By May 4, 2021November 14th, 2022No Comments

By Corina Vanek | Phoenix Business Journal

After making his firm’s first real estate investment in the middle of the Covid-19 pandemic, David Malin is nearing the end of a $1.5 million renovation to the Cave Creek shopping center.

Malin, founder of Scottsdale Development Partners, bought the Shops at Dynamite Creek in Cave Creek for $10.5 million in summer of 2020. At the time, the development was 69% leased. Now, three more tenants have brought the occupancy to 83%.

Loco J’s Tacos and Tequilas leased 4,000 square feet at the center, OrthoArizona took 4,000 square feet and Remax leased 2,000. Prior to Malin’s firm buying the center, it had not seen any new tenants sign leases for four years. Other tenants at the center include ACE Hardware, Honor Health, Tailgaters, The Creek Patio Grill and Dynamite Creek Animal Hospital.

The renovation is still underway, and the roof tiles and monument sign will both be replaced in the next few weeks, Malin said.

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