Private Buyer Pays $30M for Fender's HQ

SCOTTSDALE, AZ-A little more than two years after WDP Partners LLC acquired the vacant former headquarters of the First National Bank of Arizona (FNBA), the Phoenix-based investor sold the office building, with Fender Musical Instruments Group as its main tenant, to Bruce Karsh, head of Oaktree Capital Management in California. The buyer paid $29.8 million for the 127,750-square-foot building, which is Fender’s headquarters.

“They’d held it for more than a year and leased it up,” explains Jim Fijan in CBRE’s Phoenix office, who represented the seller of the office building at 17600 N. Perimeter Dr. “It seemed like a good time to get it to the market place.”