X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SCOTTSDALE, AZ-Two national-credit tenants have signed leases in the class A Scottsdale Norte office building with an original lead tenant committing for another five years and a newcomer inking a three-year pact for the two-story garden-style building.

“The location is great,” says Gwen Musfeldt, an associate at Cushman & Wakefield of Arizona Inc.’s Phoenix office. “It’s not so far north. Once you get a little farther north on Scottsdale Road, it gets really congested.”

Little Rock, AR-based Alltel Corp. renewed 10,167 sf with AmeriVest Properties Inc. of Denver, which bought the 11333 N. Scottsdale Rd. office building last year for $12.3 million. Alltel, the original lead tenant in the five-year-old building, worked out a renewal with an $800,000 payout over the term, Jerry Jacobs of Cushman & Wakefield’s Phoenix office tells GlobeSt.com.

Santa Barbara, CA-based Mercer Advisors signed a three-year lease, worth $411,000, for 5,941 sf. The medical profession consultant and financial planner intends to open doors office this month.

Suites at Scottsdale Norte range from 1,247 sf to 11,149 sf, with rents averaging about $24 per sf. A chief selling point is its close proximity to the Airpark and Loop 101.

Jacobs, Musfeldt and Larry Downey, all with Cushman & Wakefield of Arizona Inc., represented AmeriVest. Alltel’s broker was Flint McNaughton of North Point Real Estate LLC in Savannah, GA, and Mercer Advisors was represented by Mike Santellanes and Pete Rich, both in the Phoenix office of Coldwell Banker Commercial.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.