PHOENIX – Cassidy Turley, a leading commercial real estate provider in the U.S., announced today they successfully sold Blackhawk Corporate Center II, a ±36,724-square-foot class B office building at 3050 West Agua Fria Freeway in Phoenix. Valley Schools Trust (Phoenix, AZ) purchased the property for $3,517,500 ($95.78 psf) from Special Servicer LNR Partners, LLC (John Mitchell, Vice President, REO Asset Management) of Miami Beach, FL. Executive Vice Presidents Eric Wichterman and Mike Coover, with Cassidy Turley’s Capital Markets Group and Vice Presidents Mark Stratz and Tyler Wilson and Associate Vice President Scott Baumgarten, with Cassidy Turley’s Office Group represented the seller. Mike Sayre of Cushman and Wakefield represented the buyer.
According to Wichterman, “The Blackhawk Corporate Center sale is an excellent representation of the significant surge in owner-occupant acquisitions seen in The Valley as a result of highly affordable post-recession pricing and, in several cases, abundant financing available to owner/users.”
Built in 2000, Blackhawk Corporate Center II sits on 2.44-acres and is located on the North 101 Freeway, west of the I-17 Freeway. The two-story, high visibility project was 55.5 percent leased at the time of sale. Valley Schools Trust plans to occupy the majority of the vacant space in the building.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.