SCOTTSDALE, AZ-WDP Properties beat out 16 other investors to naba vacant 136,556-square-foot office building that formerly housedFirst National Bank of Arizona’s corporate headquarters. ThePhoenix-based investor paid $10 million for the class A property,which has been vacant since the FDIC closed the bank in July2008.
Situated on nearly 11 acres within Scottsdale’s prestigiousPerimeter Center development, the building is located at 17600 N.Perimeter Dr. It includes a 5,800-square-foot cafeteria, a7,700-square-foot, raised-floor data center and a back-upgenerator.
WDP Properties, which is a company headed by former WestcorDevelopment executives, acquired the property in an all-cashtransaction out of receivership. Midland Loan Services served asthe asset’s special servicer.
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