CBRE Negotiated $15.99 Million Sale of Class A Office Building in Scottsdale

CBRE arranged the $15.99 million sale of the McDowell Mountain Business Park II in North Scottsdale at 16552 North 90th Street.

CBRE Investment Properties’ Geoffrey Turbow and Gary Cornish, along with CBRE’s Charlie von Arentschildt and Sean Spellman, represented the seller, Strategic Office Partners, in the transaction. Bob Kling of Lee & Associates represented Envita Medical Centers, which acquired the property.

"Despite a robust supply of available office space in the Scottsdale area, our team's strategic marketing efforts and unwavering commitment to showcasing the property's exceptional qualities attracted a discerning buyer who recognized its inherent value," said Turbow, senior vice president at CBRE. "The sale underscores the enduring demand for high-quality office space in desirable locations, even amidst a market with ample leasing options."

The three-story Class A office building (128,998 sq. ft.) was built in 2007 on 4 acres as part of a larger development. The building features a contemporary design, a two-story atrium in the lobby and unobstructed views of Scottsdale, Phoenix, and the McDowell Mountains.

"There is a limited number of Class A buildings available in the North Scottsdale area," added Mr. Cornish, senior associate at CBRE. "The seller diligently upheld the property's condition and, by removing the prior tenant's build-out, created an opportunity for us to find a buyer aligned with the vision for the space. Envita can now utilize this building for clinical and administrative purposes for years to come."

Located off Loop 101, the property users can quickly access the high-end restaurants and retail shops at Kierland Commons and the Scottsdale Quarter. The Scottsdale Municipal Airport is less than a mile from the property.