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September 21, 2020
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$17.3 Mil Buys Multi-Tenant Office Property in Arizona


A 57.7k sf, multi-tenant office property in Scottsdale, AZ was acquired for $17.3 mil ($300/sf) by Valwood Element LLC. The property, known as Element, is located at 14614 N. Kierland Blvd.

Situated within the prestigious Kierland master-planned community of north Scottsdale, the Element at Kierland is an upscale multi-tenant office building that was built in 1998 and extensively renovated in 2015. The property fronts along the Westin Kierland Golf Course and benefits from superb walkable amenities concentrated within two upscale lifestyle shopping centers, Kierland Commons and Scottsdale Quarter. The building features extensive creative-style tenant suites and is 98% leased.

Eric Wichterman and Mike Coover of Cushman & Wakefield represented both the buyer and seller, MACP Kierland Fairways LLC, a subsidiary of Montana Avenue Capital Partners in the transaction.

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