The deal for a condo at the corner of Camelback and Scottsdale roads sets up a consolidation for several local Equitable offices that handle mortgage, title and other real estate transactions. The move-in is planned to take place around midyear.
"This is an expansion for them, too," says Peter Barbey, associate vice president of Colliers International's Phoenix office who, with John Barnes, represented the buyer in talks with the in-house broker for local seller, HIHQ South LLC. "For example, they have an office at 6808 Camelback, across the street, and they just got too large for it."
The 11.3-acre Scottsdale Waterfront has 80,000 sf of office condos in the 1.1-million-sf, retail and office development. Barbey tells GlobeSt.com that the available office condo space is now sold out. "There wasn't a lot of office condo space with this project," he adds. "The condos were constructed at a point to substantial completion, then immediately delivered to the buyers."
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