CBRE Negotiates $6.2 Sale of Two Office Properties in Paradise Valley

CBRE negotiated the $6.2 million sale of two office buildings in the Paradise Village Office Park to Phoenix Enterprises LLC. CBRE’s Geoffrey Turbow represented the seller in the transaction along with Charlie von Arentschildt of JLL.

“This represents a rare opportunity to invest in one of Phoenix’s most vibrant and rapidly evolving submarkets. With its strategic location adjacent to the redeveloped Paradise Valley Mall, these assets are exceptionally well-positioned to capitalize on the area’s ongoing revitalization and long-term growth trajectory,” said Turbow, Senior Vice President at CBRE. “We received strong interest from across the Pacific Southwest, ultimately narrowing the field to a select group of bidders. After requesting the best and final offers, all parties increased their bids, and we ultimately selected an experienced local buyer with an all-cash offer.”

Paradise Village Office Park I is a two-story, 15,124-sq.-ft.-office building located at 11405-11411 North Tatum Blvd. Its sister property, Paradise Village Office Park II, comprising 46,813 sq. ft., shares the park-like campus at 11801 North Tatum Blvd. Both buildings were fully occupied at the time of sale.

Established at the intersection of North Tatum Blvd. and East Cactus Road and within the circular Paradise Village Parkway, the office park enjoys excellent visibility and accessibility. The portfolio also benefits from easy connectivity to the greater Phoenix metropolitan area, including downtown Phoenix, Scottsdale and other major business corridors, thanks to its position near State Route 51.