Cushman & Wakefield, a global leader in commercial real estate services, announced today that Executive Director Chris Toci and Director Chad Littell negotiated the sale transaction of Paradise Valley Corporate Center for $37.4 million.
Team Toci of Cushman & Wakefield represented the Seller who sold the property to Buchanan Street Partners of Newport Beach, Calif. No outside broker was involved.
Paradise Valley Corporate Center is a Class A office project in the Scottsdale/Paradise Valley area, located at 4835 E. Cactus Rd. “The property enjoys immediate access to approximately 2.3 million square feet of walkable amenities, convenient freeway access, an attractive Scottsdale address, and is surrounded by the highest demographics in metro Phoenix,” said Mr. Toci. The demographics in Scottsdale/Paradise Valley are the highest in metro Phoenix with average annual incomes of $109,000 in Scottsdale and $132,000 in Paradise Valley.
Built in 2002, the 4-story building contains 198,534 square feet of office space, featuring large, flexible floor plates, spacious lobbies, ample glass lines, and an onsite deli. “Paradise Valley Corporate Center is 94% leased to a diverse set of investment-grade and blue-chip tenants in the finance, insurance, real estate, and technology sectors,” added Mr. Littell.