|
|
6/03/21
|
Dallas-based Westmount Realty Capital LLC bought Mountain Vista Commerce Center, a 134.7k sf flex industrial and office complex, for $17.4 mil ($129/sf). The property, sold by Northstar Commercial Partners, is situated in the prestigious Ahwatukee Foothills neighborhood of Metro Phoenix, Arizona’s Southeast Valley.
Mountain Vista Commerce Center consists of three high quality buildings situated on more than 10 acres. One of the buildings is a state-of-the-art corporate office property and the other two buildings are flex industrial properties. The multi-tenant asset was approximately 62% leased at the time of sale.
The property provides convenient freeway access and direct visibility from Interstate 10. It also benefits from a land-constrained location in the prestigious Ahwatukee Foothills area, surrounded by upscale housing, shopping, and dining.
Cushman & Wakefield’s Eric Wichterman, Mike Coover, Steve Lindley, Bob Buckley and Tracy Cartledge represented the seller in the transaction. Adam Tolson of Lee & Associates provided market leasing advisory.
“The project’s vacancy is concentrated in one building improved with cutting edge ‘plug and play’ office space that includes furniture and equipment,” noted Coover. “At the close of escrow there were significant prospective tenants pursuing the space.”
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
