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7/15/24
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A three-story, 91.1k sf Class A office and medical office project in Scottsdale, AZ traded hands in a recent $11 mil ($120/sf) transaction. The building, 90 Mountain View I, was sold by Regent Properties.
90 Mountain View I is located at 9977 North 90th St, south of Shea Blvd and just east of Hwy 101. Built in 2000 and situated on a 3.32-acre site, the property offers abundant parking at 4.33 spaces per 1,000 square feet in subterranean, surface and in an adjacent parking structure.
Located in the vibrant “Scottsdale Cure Corridor,” 90 Mountain View I is a LEED and Energy Star Certified property and is within walking distance of the 427-bed HonorHealth Scottsdale Shea Medical Center. The property was 86% leased at the time of sale.
Barry Gabel, Chris Marchildon and CJ Osbrink with Newmark represented the seller in the deal.
“The sale of 90 Mountain View I is a testament to the strength and resilience of the office and medical office market in Metropolitan Phoenix,” said Gabel. “We continue to see robust demand for well-located, high-quality office and medical office properties. This transaction highlights the confidence investors have in the long-term growth and stability of this region.”
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