The vacant building at 6930 E. Chauncey Lane was originally under contract to another buyer. When that deal fell through, ViaWest Properties of Phoenix stepped in to acquire the asset, based on its location.
"We've been trying to get into this market for awhile, and have been looking for the right deal," says Steven Schwarz, managing director with ViaWest Properties. "The location made this deal a good one for us."
Schwarz tells GlobeSt.com ViaWest is accepting offers for sale or lease. The sales price is quoted at between $275 and $300 per sf, while the lease ask is $24 per sf, triple net. ViaWest is finalizing the brokerage company that will handle the lease or sales activity on the building.
"This is such a great location, coupled with an abundance of amenities, and it fits almost any kind of office user," Schwarz comments. "There really is no existing vacant class A office building within close proximity to this one." The other three North Scottsdale Corporate buildings developed by Opus West were already sold and contracted to the users.
Schwarz says ViaWest would be interested in more investments in the Scottsdale market, but doesn't have anything on paper as yet. "We have some offers out in other submarkets right now we're trying to make happen as well," he adds.
Mitch Stravitz and Bruce Campbell of CB Richard Ellis Inc.'s Phoenix office represented ViaWest in the purchase. Bill Blake of Phoenix-based Lee & Associates was on hand for Opus West.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.