Cushman & Wakefield, a global leader in commercial real estate services, announced today that an affiliate of Menlo Equities LLC purchased the remaining three buildings of the Thistle Landing office park located at 4801, 4805 and 4811 E. Thistle Landing Dr.
Chris Toci, Chad Littell, Jerry Noble, Pat Devine and Greg Mayer of Cushman & Wakefield represented the seller, Torchlight Investors LLC of New York, in the disposition. No outside broker was involved.
Thistle Landing includes four single-story, Class A office buildings built in 1998. The three-building acquisition totaled 282,503 square feet. Separately, the buildings are 101,006 SF (4801 E. Thistle Landing); 90,944 SF (4805); and 90,553 SF (4811).
“Thistle Landing is ideally located in the explosive growth corridor of the Southeast Valley,” Mr. Toci said. “High-paying employment opportunities in the technology and medical fields are luring well-educated workers to the area to avoid congested freeway commutes.”
Menlo Equities, based in Palo Alto, CA, now owns the entire 383,509 square foot Thistle Landing Office Park, located at 48th Street and Ray Road. It features an abundant 6/1000 parking ratio. The property is 100% leased to investment-grade and blue chip tenants Fiserv Inc., United Healthcare, DISH Network and OptumRx.