Kierland Commons sits on the west side of Scottsdale Road near Greenway Parkway, with street retail, restaurants, and office over the shops. Scottsdale Quarter is the center across the road, with its own retail, a grocery, and office floors. The Westin Kierland resort is the hotel in the same node, and apartment communities such as Optima Kierland sit beside the shops. A sponsor who searches “Kierland office space” or “Kierland Commons office space” is usually looking at one of those buildings, not at a warehouse by the runway.
The city line runs through the node. One address can be Phoenix and the building across Scottsdale Road can be Scottsdale. The loan follows the address on the deed or the lease, then the rent roll. Phoenix and Scottsdale stay the city pages. This page is only the Kierland cluster. The markets list is Markets.
Kierland Commons
Kierland Commons is open-air retail with offices above and beside the stores. A shop lease, a restaurant, and a professional tenant do not underwrite the same way. Retail credit follows the sales and the lease term. Office credit follows the roster and the rollover. If both sit in one building, the lender reads both. We shop that file to a bank, a life company, or CMBS when the income is stable, and to bridge when the plan is a lease-up. We do not print a coupon for the Commons.
Apartments next to the Commons are a multifamily loan when the collateral is the apartment community, not a retail pad. Agency, life company, a bank, or bridge can fit. We are not a Fannie Mae DUS lender on those apartments, and we are not the bank.
Scottsdale Quarter, across the road
Scottsdale Quarter is the other half of the same intersection, not a second submarket and not a reason for its own page. Office there is often a full floor or a suite over retail. The search “Scottsdale Quarter office space” belongs here. Send the suite number so nobody treats Quarter office as Kierland Commons office, or as Airpark flex.
A hotel room block at the resort is hospitality collateral. It is not a retail loan because guests walk to the shops. Hospitality underwriting reads occupancy and the flag. Retail underwriting reads the shop leases. If you own both, they are two files unless one loan actually covers both parcels.
Why this is not the Airpark
The Scottsdale Airpark is the employment district around Scottsdale Airport, generally north of this intersection, with flex and industrial as the usual collateral. The published Airpark card is a life-company flex refinance. It does not name Kierland, the Commons, or the Quarter. We will not move that card here, and we will not describe a Kierland shop as Airpark industrial.
Permanent debt for a leased Kierland building is compared on Scottsdale permanent when the address is Scottsdale, and on Phoenix permanent when it is Phoenix. Mixed-use mechanics for the state are Arizona mixed-use.
Kierland: where the address sits
- Two centers, one intersection
- Kierland Commons and Scottsdale Quarter face each other near Scottsdale Road and Greenway Parkway. Sponsors treat them as one node. The City of Phoenix and the City of Scottsdale still tax and permit by the parcel, so the loan file starts with which city is on the address. City of Scottsdale
Capital for the Kierland node
| Source | When it fits |
|---|---|
| Scottsdale bank | A portfolio hold for a Scottsdale Quarter or Commons suite the sponsor occupies. We are not the bank. |
| Life company | Stabilized Kierland income, shopped when the rent roll can be explained. |
| Mixed-use | The statewide page for a building that is both shop space and offices or apartments. |
| Hospitality | The resort hotel is a hotel loan, not a retail loan with a lobby. |