Investor Jeff Jones paid more than $108 per sf to sellers Richard Campana, Dominic Berta and Carol Planeta, all of Scottsdale. Marcus & Millichap's Steve Gonzalez and Jaime Medress, both in Phoenix, represented buyer and seller.
Designed for four tenants, the building was fully leased at sale time. The Civic Center Professional Plaza is near downtown Scottsdale, the city's civic center and city hall. Nearby amenities include Scottsdale Fashion Square, Scottsdale Mall and a plethora of shops and restaurants in the Old Town Scottsdale area.
Office space in Scottsdale is not in as much demand as it was a year ago, but it still commands some of the highest rates in town, bringing upward of $25 per sf. The office vacancy rate in the city's southern tier was 16.11% at the start of the fourth quarter. The Valley average for office was 15.8% whereas North Scottsdale's riding at 13.25% percent.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
