Cushman & Wakefield has announced 8700 E. Via de Ventura sold to Alvarado Realty of New Mexico for $7.7 million.
Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley and Associate Ben Geelan with Cushman & Wakefield represented the seller in the transaction, TA Realty of Boston, according to a press release.
8700 East Via de Ventura is a three-story office building, totaling 50,789 square feet and is 92.6 percent occupied. Built in 1986, the property has timeless architectural appeal with ample glass-lines, modern exterior design, contemporary interior finishes and abundant parking spaces.
“The appeal of a stable rent roll, upside in rent and a Scottsdale address set 8700 East Via de Ventura an outstanding opportunity to the investor to acquire a quality office investment in one of Phoenix’s most desirable submarkets,” said Mr. Buckley in a prepared statement.
Encompassing 2.27-acres, the property is in the McCormick Ranch community, offering high-end residential, resorts, golf courses, dining and shopping area.
“The property’s outstanding location dynamics and Scottsdale’s prestigious address continue to be attractive to tenants,” said Mr. Buckley.
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