SCOTTSDALE — A north Scottsdale church has bought its third property in five years, paying $10 million for a 3.65-acre lot and bringing its total real estate investment to nearly $30 million, KTAR News and the Phoenix Business Journal reported.
Illuminate Community Church acquired the parcel at 17600 N. Perimeter Drive on Nov. 2 from Finish Line Arizona LLC, according to real estate database Vizzda. The nondenominational church put $3 million down and financed $7 million through Cass Commercial Bank.
The property is a parking lot next to the church’s two buildings and the site of Finish Line Auto Club’s planned $90 million luxury car garage at the former Fender Musical Instruments headquarters.
Demolition of the old Fender building began in September, and a groundbreaking for the auto club is set for Nov. 16. The 140,000-square-foot project will include six buildings and a four-level, 21,000-square-foot clubhouse.
“The new Finish Line Auto Club development was originally planned on just the 7-acre site, so we had some flexibility with this excess 3.5 acre parcel,” co-founder Tony Principe told the Business Journal.
Sources: KTAR News / Phoenix Business Journal. Thee Arizona Times uses AI-assisted reporting reviewed against the sources listed.
Photo: Designism / CC0 via Wikimedia Commons.
