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December 15, 2018
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TEXAS/SOUTHWEST NEWS
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Scottsdale Office Building Trades in $30 Mil Sale

3/07/18

Denver-based Buchtel Realty Investors has purchased 90 Mountain View Phase II, a 92.6k sf, single-tenant office building in Scottsdale, AZ for $30.5 mil ($329/sf). The property, located at 9999 N. 90th St, was sold by Los Angeles-based Regent Properties.

90 Mountain View Phase II is a three-story building currently 100% occupied by PayPal. The building serves as one of PayPalís four global, mission-critical Network Operations Centers. Developed in 2005, the Class A, institutional-quality property has millions invested in the building for the mission-critical operations center use. PayPalís other three Network Operations Centers are located in Silicon Valley, India and Malaysia.

Steve Lindley, Bob Buckley, Tracy Cartledge, Andrew Bogardus and Douglas Longyear of Cushman & Wakefield represented Regent in the transaction. Rob Edwards and Tom Ethington with Pinnacle Real Estate Advisors repped the buyer, a private family owned real estate company.

The building is LEED Silver and Energy Star-certified and features mountain views. Located in the center of Scottsdale, the property is freeway accessible providing PayPal access to a highly talented workforce in a rapidly growing high-tech industry cluster.





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