Navaera Worldwide Acquires Old Town Asset for Adaptive Reuse
|PHOENIX, September 3, 2019 – Cushman & Wakefield completed the sale of the former Bratzel building, located at 7501 East Osborn Road. The 8,427 square-foot, two-story showroom/warehouse building is in the center of Old Town Scottsdale.
Michael Kitlica of Cushman & Wakefield represented the buyer, Navaera Worldwide, in the $1.628 million transaction.
“The acquisition of 7501 East Osborn will allow Navaera to consolidate several existing Scottsdale operations to their new amenity rich Old Town Scottsdale headquarters, to enhance the employee and customer experience. Scottsdale-based architecture firm AAKAII is in the process of designing a best-in-class adaptive re-use to foster the innovative technical work environment Navaera requires,” said Kitlica.
Completed in 1966 and originally designed by architect Ray Parrish, 7501 East Osborn is one of the oldest industrial buildings in Scottsdale and has been occupied by Scottsdale Plumbing for decades; which is in the process of re-locating.
Located across the street from the San Francisco Giants training facility, 7501 East Osborn is also ideally positioned within close proximity to Scottsdale Fashion Square, the upscale two million square foot super-regional luxury shopping mall, as well as pedestrian-friendly streets home to world class art galleries, museums and restaurants.
|About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.