The Grove at Black Canyon Sells for $14.5 Million

Cushman & Wakefield, a global leader in commercial real estate services,
announced today that a California-based investor has purchased The Grove at Black Canyon in the Interstate
17 Corridor for $14.5 million.

Grove at Black Canyon copy
Cushman & Wakefield Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley and
Associate Ben Geelan, along with Executive Managing Director Jeff Wentworth and Senior Vice President
Sean Spellman negotiated the sale. Drawbridge Realty of San Francisco acquired the project from NSD
Holdings of La Jolla, Calif.
“This is a great single-tenant investment opportunity for the buyer,” said Mr. Buckley. “The property has a
strong history of success with high-quality tenants. Mass Mutual currently leases the project, and CIGNA
previously occupied the entire building. The Grove’s freeway-frontage and credit tenancy with a strong
remaining lease term made this an appealing acquisition.”
The Grove at Black Canyon, located at 11001 N. Black Canyon Highway, was built in 1986 and renovated in
both 2009 and 2013. The property contains 95,389 square feet of office space and is 100% leased by Mass
Mutual.

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