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12/31/24
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A 165.2k sf office building in Old Town Scottsdale, AZ has traded hands in a $42.25 mil transaction. The property, located at 7272 E. Indian School Rd, was acquired by a venture between George Oliver and Ascentris.
The purchase, which follows the partnership’s mid-2024 acquisition of 4141 and 4167 N. Scottsdale Rd., expands the companies’ Old Town Scottsdale footprint to over 350k sf. The properties will be redeveloped into a new trademark George Oliver experiential office campus.
The Old Town assemblage occupies approximately six acres at the prominent corner of Scottsdale and Indian School Roads. Design concepts for the campus are underway, with renovations slated to begin in 2025.
Final spaces will align with similar George Oliver 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 nearing completion in the Camelback Corridor.
The Old Town buildings are surrounded by premier restaurants, luxury and boutique retailers, nightlife venues and a robust art scene, alongside hospitality and residential developments. The area offers convenient access through nearby thoroughfares and is situated near a large and diverse workforce, making it an ideal location for businesses seeking vibrant surroundings and a dynamic community.
JLL’s Ben Geelan, Will Mast, Jack Miller and Gigi Martin represented the building seller. The design and architecture for the new Old Town Scottsdale assemblage is being led by George Oliver Design.
Based in Arizona, George Oliver is known for its modern aesthetic design and placemaking catering to the unique needs of a project’s submarket. In Old Town, George Oliver will cater to a vibrant workforce with award-winning, hospitality-centric amenities such as extensive conference spaces, individual teleconferencing and podcasting areas, 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.
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