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11/28/22
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A joint venture of Crowne Point Equity LLC, Corsair Management LP and A-1 Legacy Properties LLC paid $14.55 mil for a 42k sf ($346/sf) office building in Phoenix. Located at 6225 North 24th Street, the three-story building is 100% leased to McCarthy Building Companies, Inc., a national construction company whose work includes contracts for major governmental and infrastructure projects across the U.S.
The property’s on-site amenities include a shaded garden-level patio with picnic tables, outdoor cooking and seating, numerous conference rooms, break rooms and recreational/game rooms, and a custom fully equipped kitchen. The property also provides excellent access to the high-end shopping, dining, and entertainment amenities in the prestigious Camelback Corridor.
The location is also quickly accessible to SR-51 (Piestewa Peak Parkway), the primary freeway serving the Camelback Corridor/Biltmore area. SR-51 also connects to the I-10, Loop 101, and Loop 202. The Sky Harbor International Airport is also within ±10 minutes.
Eric Wichterman and Mike Coover with Cushman & Wakefield’s Private Capital team in Phoenix in collaboration with Mark Seale of Avison Young represented the seller, McCarthy/MRL Properties Arizona LLC, in the transaction.
“24th at Lincoln is a high-quality office property supported by a robust tenant. The building features a high-end image while its elevated terrain and positioning at the base of a mountain preserve provides spectacular 360-degree views. The property also fronts and offers fairway views along the Arizona Biltmore Links Golf Course,” commented Wichterman. “The building offers a phenomenal workplace environment with superb building amenities, a key element for companies in attracting top talent to the office.”
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