By Angela Gonzales | Phoenix Business Journal
After paying $10.5 million for a shopping center in August 2020, David Malin has sold it for $21.95 million.
During the 18 months that he owned The Shops at Dynamite Creek at the northwest corner of Tatum and Dynamite boulevards in Phoenix, the president of Scottsdale Development Partners raised occupancy from 69% to 96% by the time he sold it, bringing on eight tenants.
“When I bought it, it was in disrepair,” Malin said. “My seller had not signed a new lease with a new tenant for four years.”
He invested $1.5 million to renovate the center and brought on eight tenants, including Loco J’s Tacos and Tequilas, OrthoArizona, REMAX, F45, J Ride Bikes, Dynamite Beer Co. and Fred Astaire Dance Studios.
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