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June 23, 2024
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Phoenix Office Property Gets New Owner in $17.5 Mil Deal


West 101 Corporate Center, an 81k sf, multi-tenant Class A office property in Phoenix, traded hands for $17.5 mil ($216/sf). Located at 1860 N 95th Lane in the West Valley trade area, the building was acquired by Overstreet Project LLC, a Nevada-based investor. The asset was approximately 93% leased at the time of sale.

Built in 2008, West 101 Corporate Center is a three-story, high-image Class A office building positioned within a half-mile of Interstate 10. The property is also within close proximity to State Farm Stadium, home of the Arizona Cardinals, and the Westgate Entertainment District.

The seller was Next Gen 101 LLC, an entity of Helix Properties, which was represented in the transaction by Eric Wichterman and Mike Coover of Cushman & Wakefield.

“Situated in Phoenix Metro’s thriving West Valley market, West 101 Corporate Center is a best-in-class office asset with prominent freeway visibility and frontage,” said Wichterman. “The building features institutional-quality architecture with commanding curb appeal and a quality tenant base—the largest tenant in the project signed a long-term renewal in early 2021—and a lease deal on one of the two existing vacant suites was underway at the time of the close.”

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