CBRE Delivers Competitive Office Trade in Coveted Scottsdale Submarket

Scottsdale, Ariz. (July 17, 2026) – CBRE facilitated the $4.7 million sale ($347 per square foot) of a 13,531 sq. ft. boutique office building at 7020 East Acoma Drive in Scottsdale, Arizona. The seller, Kraken Holdings LLC, had occupied the building as an owner-user and completed partial renovations featuring high-end finishes during their tenure. The asset was sold to a Midwest-based firm seeking a permanent Phoenix base. CBRE’s Geoffrey Turbow represented the seller.

The Kierland/Scottsdale Airpark corridor is one of Arizona’s most supply-constrained office locations, where assets of this size and quality rarely trade. The property generated multiple offers and went under contract in 21 days, closing eight days ahead of schedule at 95.2% of the asking price. The sale included a comprehensive FF&E package, delivering fully furnished conference rooms, workstations, server infrastructure, and security systems at close.

“When the seller trusted our pricing recommendation, it set the tone for everything that followed,” said Geoffrey Turbow, senior vice president with CBRE. “The Kierland/Scottsdale Airpark corridor has the demand. Our job was to set a price that unlocked it. When you do that correctly, you don’t need time on market to find a buyer. The buyers find you, they compete, and the seller wins. Multiple offers, 21 days to contract, eight days ahead of close. That’s what strategic pricing produces.”

A significant number of qualified buyers were unable to compete before the property went under contract and remain actively seeking comparable product.

Built in 2003 and located near Loop 101, the two-story building features glass, steel, and masonry construction, efficient floor plates, and surface and covered parking, supporting full-building or multi-tenant configurations.

According to CBRE Research, the Northeast Valley/Scottsdale office submarket recorded a vacancy rate of 15.1% in the fourth quarter of 2025, the lowest in Metro Phoenix, reflecting strong tenant demand and limited available supply.