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Beverly Hills Buyer Spends $12 Mil on Phoenix Office Asset

11/15/19

GMK Assets Corporation of Beverly Hills paid $11.95 mil for Pueblo Nuevo, a garden-style, 95.8k sf ($125/sf) multi-tenant office complex in Phoenix. The property is located at 301 E. Bethany Home Rd.

Pueblo Nuevo features attractive Santa Fe architecture and large central courtyards filled with gardens, Koi ponds and waterfalls. An extensive renovation of the property was completed from 2016 to 2018.

Eric Wichterman and Mike Coover of Cushman & Wakefield Phoenix represented the seller, Pueblo Nuevo Holdings LLC, in the transaction.

“Pueblo Nuevo is a unique ‘niche’ office building with a superb location within the prized 7th Street Corridor, which has emerged as a hotspot for hip restaurants, retail, apartments and upscale office space,” noted Wichterman.




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