Current print subscribers can create a free account by clicking here
Otherwise, follow the link below to join.
To Our Valued Readers –
Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.
For $6.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.
Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.
Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.
Need to set up your free e-Newspaper all-access account? click here.
Non-subscribers
Click here to see your options for becoming a subscriber.
Register to comment
Click here create a free account for posting comments.
Note that free accounts do not include access to premium content on this site.
I am anchor
Offices
Sale of office asset near Paradise Valley for $8.2 million
Cushman & Wakefield arranges multi-tenant property sale
Posted
Cushman & Wakefield announced Aug. 19 the firm has brokered the sale of a multi-tenant office building in Phoenix.
Located at 4545 E. Shea Blvd., the property is 90% leased to a synergistic mix of tenants, a press release stated. 4545 Investment Alliance, a Washington company, acquired the asset from Jumping Cholla II for $8.2 million.
Eric Wichterman and Mike Coover with Cushman & Wakefield’s Private Capital and Capital Markets teams in Phoenix represented the seller in the transaction.
“This was a strong investment opportunity of an office building located in one of metro Phoenix’s most prestigious areas,” Wichterman, executive managing director, said in the release. “The restriction of commercial developments within the adjacent town of Paradise Valley, coupled with land costs in excess of what is feasible for office development, creates barriers to entry that benefit existing high quality properties such as 4545 Shea.”
Originally built in the mid-1980s and renovated during 2007–08, the garden-style property features a vast, best-in-class, covered central courtyard, as well as large outdoor common area patio spaces on the second floor, connected by exterior walkways.
The building is conveniently located near the intersection of Tatum and Shea boulevards — two main arterials serving Paradise Valley. The property is also close to an abundant upscale collection of shopping, dining, sports and entertainment resort locations as well as State Route 51.