The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 15, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



TEXAS/SOUTHWEST NEWS
Printer-friendly Version   Email an Associate
Phoenix Office Building Gets New Owner in $8.2 Mil Deal

8/23/22

A 46.6k sf, multi-tenant office building in Phoenix sold for $8.2 mil ($176/sf). Located at 4545 E Shea Blvd, the two-story property is 90% leased to a synergistic mix of tenants.

Originally built in the mid-1980s and renovated during 2007-2008, the garden-style property features a vast, best-in-class covered central courtyard, as well as large outdoor common area patio spaces on the second floor uniquely connected by exterior walkways.

The building is conveniently located near the high-profile intersection of Tatum and Shea boulevards—two main arterials serving Paradise Valley. The property is also close to an abundant upscale collection of shopping, dining, sports, and entertainment resort locations and is also convenient to State Route 51.

The buyer was 4545 Investment Alliance LLC, a Washington company. Eric Wichterman and Mike Coover with Cushman & Wakefield repped the seller, Jumping Cholla II LLC.

“This was a strong investment opportunity of an office building located in one of metro Phoenix’s most prestigious areas,” said Wichterman. “The restriction of commercial developments within the adjacent Town of Paradise Valley, coupled with land costs in excess of what is feasible for office development, creates barriers to entry that benefit existing high-quality properties such as 4545 Shea.”





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media