Cushman & Wakefield Negotiates 50,789 SF Sale to New Mexico Investor

PHOENIX, September 27, 2016 – Cushman & Wakefield announced today that 8700 East Via de Ventura sold to Alvarado Realty of Albuquerque, New Mexico for $7.7 million.

Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley and Associate Ben Geelan with Cushman & Wakefield represented the seller in the transaction, TA Realty of Boston.

8700 East Via de Ventura is a three-story office building, totaling 50,789 square feet and is currently 92.6% occupied. Built in 1986, the property has timeless architectural appeal with ample glass-lines, modern exterior design, contemporary interior finishes and abundant parking spaces.

“The appeal of a stable rent roll, upside in rent and a Scottsdale address set 8700 East Via de Ventura an outstanding opportunity to the investor to acquire a quality office investment in one of Phoenix’s most desirable submarkets,” added Buckley.

Encompassing 2.27-acres, 8700 East Via de Ventura is well located in central Scottsdale’s McCormick Ranch community, offering high-end residential, resorts, golf courses, dining and shopping area. The property offers easy access being less than one mile from two full-diamond interchanges with Loop 101 Pima Freeway, at Via de Ventura and at Pima Road/90th Street.

“The property’s outstanding location dynamics and Scottsdale’s prestigious address continue to be attractive to tenants,” added Buckley.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.