Scottsdale Quarter acquired, new owner plans $100 million in capital improvements

Article originally posted on Phoenix Business Journal on June 27, 2025

The real estate firm founded by Arizona tech billionaire George Kurtz has made another major Valley investment.

Kurtz’s FalconEye Ventures has acquired the 755,000-square-foot Scottsdale Quarter mixed-use development, according to a June 26 announcement. The company is now planning a $100 million capital campaign that will include an expansion of its Class-A office offerings. It has partnered with shopping center operator Vestar to oversee operations at the development.

“Scottsdale Quarter is a powerful asset with even greater future potential as a magnet retail destination and a hub for breakthrough technology companies,” said Kurtz in a statement. “This acquisition aligns with our commitment to investing in and developing leading mixed-use properties that serve as catalysts for innovative companies and economic growth.”

Scottsdale Quarter, which is located at 15279 N. Scottsdale Road, will begin on its capital improvements starting in “late 2025” and the renovations will focus on “tenant curation, infrastructure enhancements and experiential retail concepts designed to differentiate the property,” per an announcement from Vestar.

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