PHOENIX, Arizona, April 20, 2023 – Colliers International in Arizona has negotiated a $5.5+ million purchase of the Black Canyon Office Center at 13430 N. Black Canyon Hwy. Shree Investments LLC, a well known, real estate investment company based in Minnesota is the buyer
“This was a very strategic transaction for the company,” says Greg Hopley, executive vice president with Colliers in Arizona. “Shree Investments, LLC had an excellent opportunity to acquire this existing office building and expand its portfolio in the Southwest,” said Hopley.
Hopley and Dillon Hopley with Colliers in Arizona worked in conjunction with Nick Levithon of Colliers in Minnesota to represent the buyer in the purchase. The seller was Net 1 Phoenix LLC. The seller was represented by Mindy Korth of Colliers in Arizona.
Black Canyon Office Center is a two-story, Class A office building with approximately 138,940 square feet of rentable space. Built in 1981 and sitting on 13.39 acres of land, he building was 55% occupied at the time of the sale. The office property offers 5/1000 parking surrounding the building, as well as outstanding frontage and signage off Interstate-10 (approximately 300,000 cars going by the building every single day). The building has capacity to add a 36-foot high monument sign facing Interstate 10 for its future tenants. Tenants in the building include Valor Global, doing business as Valor IT Inc., with approximately 3,500 employees nationally providing service desk solutions, cloud interaction and care to spur company growth. Also occupying the project is Atos It Solutions and Services, Inc., a France Based digital services provider with over 100,000 employees in 72 countries. A global leader in in the payments and transactional services industry, Atos also has a data center in the building. HPONE, doing business as Health Plan One Holdings, Inc., is also a tenant. The company services the healthcare and insurance industries, educating consumers and allowing them to shop and enroll for Medicare plans online.
Currently, Black Canyon Office Center has approximately 60,000 square feet of space available ready to occupy on the ground floor. The suite, which was previously occupied by Brown Mackie College, served as an educational space for Nursing, Healthcare and Wellness, Veterinary Technology and Early Childhood Education. The suite is completely built-out ready for a new tenant. Greg and Dillon Hopley of Colliers are handling the leasing for the new owner.