Avison Young, the world’s fastest-growing commercial real estate services firm, announced today the sale of a 21,776-square-foot (sf) former church building on 2.07 acres at 3080 N. Civic Center Plaza in Scottsdale, Ariz.
Located in Old Town Scottsdale, the site is slated for adaptive reuse as an office property. Avison Young Principals Alexandra Loye and Julie Johnson represented the buyer in the transaction and have also been retained to lease the property for the new ownership group. Chicago-based Structured REA, LLC, an entity formed by Structured Real Estate, which is led by Principal Stephen Doyle, purchased the building for $3.25 million from Munch Tooke, LLC, an entity formed by Oregon-based Santé Partners, Inc.
UEB Builders, a general contractor with offices in Scottsdale, Tucson, Dallas and Seattle, will relocate its corporate headquarters to the project. “The property had been vacant for years and presented a unique opportunity for the right developer to create value with an adaptive reuse project in the heart of vibrant Old Town Scottsdale,” comments Loye. “When completed this fall, the project will stand out in the community and will be an excellent new location for UEB Builders and other smaller tenants.” “Our client and anchor tenant, UEB Builders, had a requirement for a new corporate headquarters,” says Doyle. “UEB’s goal for the new headquarters is for it to be in an adaptive reuse development that could showcase the organization’s culture and capabilities. The 3080 N. Civic Center Plaza redevelopment is a perfect fit for UEB’s goals, and Structured Real Estate is excited to breathe new life into the building.”
Structured Real Estate has already begun to work with the City of Scottsdale to plan the reuse of this project. Page 2 of 2 “We are thrilled to see the character of this historical building be revived with an adaptive reuse to office space,” adds Johnson. “Avison Young is very pleased to be able to assist Structured Real Estate and the UEB team with their expansion.”