Buyer Makes First Purchase in Phoenix
PHOENIX, Aug. 7, 2018 – Cushman & Wakefield announced that Camelhead Square Owner LLC, formed by New York-based HighBrook Investors LLC and San Diego-based Cypress Office Properties, sold Forum North 44 in Phoenix. A company formed by William Stock purchased the property located at 3033 N. 44th Street for $19.4 million ($192 per square foot). This was the buyer’s first purchase in Phoenix.
Eric Wichterman, Chris Toci, Chad Littell, Mike Coover, Tim Whittemore and Chris Nord of Cushman & Wakefield Phoenix negotiated the sale on behalf of the seller. Aaron Dutcher of MHG Commercial represented the buyer.
Forum North 44 is a three-story, 102,611-square-foot Class A office project situated on the northeast corner of 44th Street and Thomas Road. The property was developed in 1985 and extensively in 2017, with enhancements made to the exterior, lobby and common areas, landscaping, and signage. Centrally located and spanning 4.9 acres, Forum North 44 is 97 percent leased to several notable tenants including Broadsoft, Inc., OrthoArizona, and Hill & Usher.
“On the heels of a spectacular renovation, that has firmly established it as one of the finest office properties in the trade area, Forum North 44 is ideally positioned for long-term prosperity,” said Wichterman.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 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.