Cushman & Wakefield Negotiates Sale to California Investor
PHOENIX, AZ – Cushman & Wakefield, a global leader in commercial real estate services, announced today that Executive Director Chris Toci and Director Chad Littell negotiated the sale transaction of Paradise Valley Corporate Center for $37.4 million.
Team Toci of Cushman & Wakefield represented the Seller who sold the property to Buchanan Street Partners of Newport Beach, CA. No outside broker was involved.
Paradise Valley Corporate Center is a Class A office project in the Scottsdale/Paradise Valley area, located at 4835 E. Cactus Rd. “The property enjoys immediate access to approximately 2.3 million-square-feet of walkable amenities, convenient freeway access, an attractive Scottsdale address, and is surrounded by the highest demographics in metro Phoenix,” said Mr. Toci. The demographics in Scottsdale/Paradise Valley are the highest in metro Phoenix with average annual incomes of $109,000 in Scottsdale and $132,000 in Paradise Valley.
Built in 2002, the 4-story building contains 198,534 square feet of office space, featuring large, flexible floor plates, spacious lobbies, ample glass lines, and an onsite deli. “Paradise Valley Corporate Center is 94% leased to a diverse set of investment-grade and blue-chip tenants in the finance, insurance, real estate, and technology sectors,” added Mr. Littell.