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George Oliver Teams with Ascentris in Purchase of Office Building in Old Town Scottsdale

6/10/24

Phoenix-based developer George Oliver and joint venture partner Ascentris purchased a 162.2k sf office building in the heart of Old Town Scottsdale for $26.05 mil ($160/sf). The building sits on just over three acres at 4141 N. Scottsdale Rd, at the highly visible northeast corner of Scottsdale and Indian School roads.

The building includes three stories of office space and two levels of subterranean parking. The coveted location is surrounded by high-end dining, shopping and residential options, numerous hotels and nightlife venues, and a robust art scene.

George Oliver is known for its renovations of landmark projects such as Arbor in downtown Tempe, CASA in Phoenix’s Uptown neighborhood, The Alexander and The Johnathan in downtown Chandler, and Bond, which is now under construction within the Camelback Corridor. The company, with partner Ascentris, plans to reposition this property as well.

Sought out for its modern aesthetic design and placemaking that caters to the unique needs of each project submarket, George Oliver office redevelopments offer some of the Valley’s most expansive and award-winning amenity packages. This includes a heavy emphasis on premiere and extensive conference spaces supporting large groups, individual teleconferencing and podcasting. It also includes popular hospitality-centric features such as on-site concierge services, state-of-the-art fitness centers, yoga facilities, luxury locker rooms, dining and bar areas, mother’s rooms, libraries, recreation spaces, game areas, dog patios and on-site EV chargers.

Ben Geelan and Will Mast with JLL represented the building seller. The design and architecture for the 4141 building is being led by George Oliver Design, with concepts underway now and renovations anticipated to begin in 2025.





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