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October 27, 2021
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Idaho Entity Pays $249/sf for Phoenix Office Property


North Loop 101 Building D, an 88.7k sf, Class A office building in Phoenix, was purchased by Idaho-based Stafford Holdings for $22.1 mil ($249/sf). The property was sold by Los Angeles-based Regent Properties.

Located at 19820 N 7th Ave, North Loop 101 Building D is a two-story, Class A office property located in the North Loop 101 business park in Phoenix’s Deer Valley submarket. North Loop 101 is visible from and easily accessible via the Loop 101 Freeway, providing an easily accessible and commuter-friendly location.

The property is 100% leased to two tenants, with 95% of the property serving as the corporate headquarters for energy construction company Centuri Construction Group Inc, a subsidiary of Southwest Gas. The remainder is occupied by Pacific Western Bank.

CBRE’s Barry Gabel, Chris Marchildon and Will Mast represented the in the deal. Blake Hupfer of Premiere Property Group LLC repped the buyer.

“We continue to see very strong demand from investors looking for properties that have long-term, creditworthy tenancy in well-located, infill locations,” said Mast. “North Loop 101 checked all of the boxes for the buyer and will continue to provide reliable cashflow for years to come.”

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