"Continental Center is exceptionally well located within the vibrant Downtown Scottsdale market," Tim Wolff, a principal of the local firm, says in a press release. The two-building asset is located at 6710 and 6750 E. Camelback Rd. In putting out the word, Wolff says the strength of the local market and prospects for long-term growth drove the decision to buy the property. Details about the acquisition from locally based International Capital Partners were not available by press time.
Continental Center sits on three acres in the Downtown, just west of the 1.8-million-sf Scottsdale Fashion Square. MidFirst Bank, headquartered in Oklahoma City provided financing for the complex, which is leased to Pearson Education Inc. and Berry & Damore LLC.
Wolff acquired a similar office property in late 2005. At that time, it and Intrasight partnered on the $7-million purchase of the 62,000-sf Raintree Corporate Center at 8300 E. Raintree Dr. in Scottsdale Airpark, which is Intrasight's corporate headquarters.
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