DBM Ventures Buys Scottsdale Land for $9.0 Million Office Development

Local Partners Plan Perimeter Center Building for Occupancy Summer 2019

Scottsdale, Ariz. – A local partnership known as DBM Ventures has purchased 2.79 acres within Perimeter Center with plans to develop an $9.0 million office building in the upcoming year.

DBM Ventures, a partnership comprised of David E. Sellers and two other prominent commercial real estate development leaders, purchased the acreage at 8399 E. Hartford Dr. in Scottsdale in May. The partners plan to develop a two-story, 32,054-square-foot office building on the property that incorporates modern architectural design. Construction is slated to begin at the end of this year with occupancy scheduled for summer 2019.

“The timing is perfect for this project,” says Jim Keeley, SIOR, founding partner of the Scottsdale office of Colliers International in Greater Phoenix. “The site is situated in the heart of one of Arizona’s largest employment centers and is poised for successful development as vacancy tightens during our strong economy. Businesses are eagerly relocating and expanding here in Scottsdale, looking for new, high quality space.”

Keeley negotiated the land sale transaction and will serve as exclusive leasing/sales agent for the development project.

“During the early design stages, this project is available for build-to-suit customization. Additionally, the building is offered for lease and/or sale,” says Keeley.

LGE Design Build will be handling both architectural services, as well as general contracting for the project.

Located within the master planned Perimeter Center, the property is positioned in the dynamic Scottsdale Airpark submarket. The area contains more than 3,000 businesses employing more than 57,000 people. Several companies house their headquarters or regional headquarters in the area, including GoDaddy, YAM Worldwide, JDA Software, Carlise Company, Han Wei Lines, GPS Insight and CVS Caremark.

 

About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers has also been ranked the number one property manager in the world by Commercial Property Executive for two years in a row.