Private investor acquires award-winning Scottsdale building
Saffield Family LLC purchased the property from Signature Suites SPT LLC (San Pasqual Fiduciary Trust Company) in a 1031 exchange transaction. Greg Hopley, Jim Keeley and Dillon Hopley of Colliers International in Arizona represented the seller in the disposition. Steven Barger with CRE Property Advisors represented the buyer.
“This Class A office building received two different awards for its high-quality design,” says Hopley, senior executive vice president with Colliers. “The suites feature spectacular desert and mountain views visible through full height glass lines. The property layout also offers a desert oasis courtyard with water features and benches that provide tenants with a very unique indoor and outdoor work environment. Plus, the overall demographics are some of the best in the entire Valley.”
Built in 2000, the building contains approximately 27,797 rentable square feet of office space. Situated on 2.13 acres of land just west of the Loop 101 near Bell Road, the property is a short walking distance from the TPC Scottsdale Champions Course and Scottsdale Sports Complex, and the renowned Princess Hyatt Resort. The interior was remodeled in 2017 to 2019 and now features break rooms with granite-topped entertainment bar and hardwood cabinets. Modernized LED lighting, wood blinds, 11-foot ceilings and updated private restrooms provide tenants with high-end office space amenities.
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.
Colliers International in Arizona has served clients locally and globally for more than 40 years.