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5/29/19
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Desert Canyon 300, a 149.2k sf office building in Phoenix, was acquired by San Francisco-based. The property, located at 2411 W. Peoria Ave, was sold by Salt Lake City-based Bridge Investment Group.
Built in 2001 by The Alter Group, Desert Canyon 300 is a Class A office building that is 100% leased to a NYSE-listed corporation with over $2 bil in revenue. It sits just a couple of blocks east of I-17.
Steve Lindley, Bob Buckley and Tracy Cartledge of Cushman & Wakefield represented the seller in the transaction. The price was not disclosed.
Centrally located in Phoenix, the Interstate 17 corridor has one of the highest concentrations of Fortune 500 companies in Metro Phoenix. Lindley stated, “As a well-located office asset with excellent intrinsic value, and with stable income from a blue chip tenant, Desert Canyon 300 is well-positioned for continued strong performance under the new ownership.”
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