A company called 17235 Piedmont LLC bought the Arrowhead Executive Center, an office property in Glendale, for $25.25 million. Cushman & Wakefield announced the sale July 21.
Eric Wichterman and Chris Toci of the Cushman & Wakefield real estate services firm represented the seller, an affiliate of Woodside Health, in the transaction.
"This transaction highlights the emerging demand for stabilized, high-quality office and medical assets in Phoenix," Wichterman stated in a press release. "Arrowhead Executive Center's strategic location across the street from Arrowhead Towne Center and at the core of the Arrowhead trade area—which has posted single-digit office vacancy for several years alongside accelerated rent growth—makes it a compelling option for long-term investment."
