Colliers International negotiates sale of Signature Office Suites building for $6.85 million

Private investor acquires award-winning Scottsdale building

Phoenix, September 17, 2020 – The Signature Office Suites building at 8585 E. Hartford Drive in Scottsdale, Arizona, sold to a private investor for $6.85 million. The Class A two-story office building features self-contained office suites that were 96 percent occupied at the time of sale.

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.

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Greg Hopley

Executive Vice President

Scottsdale

As an executive vice president with Colliers International’s Scottsdale office, I specialize in the sale and leasing of commercial properties. My focus is commercial office, industrial, land and investment properties. I work on behalf of both landlords and tenants. I have been with Colliers International for over 32 years, joining the company in 1988.

Based in the Scottsdale Airpark, my geographic focus covers the metro Phoenix market, as well as assisting companies throughout the U.S. with their commercial real estate needs, as detailed below. 

My in-depth experience includes:

  • Acquisition of distressed commercial real estate
  • Commercial consultation
  • Landlord and tenant representation
  • REO and bank disposition of commercial properties
  • 1031 exchanges
  • Sale/leasebacks
  • Build-to-suits
  • Commercial land acquisition and development
  • Office and industrial commercial condos
  • Aviation hangar sales and leasing
  • Sales and leasing of commercial office, industrial, land and investment properties
  • Commercial property marketing and listing
  • Extensive experience in canvassing for prospective tenants, property marketing, advertising and direct mail campaigning on behalf of my clients

My prior experience includes serving as vice president of marketing at Great Western Distribution, Inc., a $75 million Arizona distributing company. I was in charge of the Food Service Division at Great Western, sourcing and inventorying products for approximately 30 fast food restaurants. In this role, I worked exclusively with many national fortune 500 corporations, such as Beatrice, Kraft, Proctor & Gamble, Pepsico, Lamb Weston and Del Monte, to name a few. I was instrumental in administering nationwide transportation and distribution, marketing, advertising, purchasing and inventory control.

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Jim Keeley

Founding Partner

Scottsdale

As the Founding Partner of Colliers International’s Scottsdale office and Senior Executive Vice President for Colliers International in Arizona, I lead the Scottsdale office and serve as its designated broker.

Considered one of the leading commercial real estate experts in the Deer Valley and Loop 101 Employment Base and the Scottsdale Airpark, I specialize in the sale and leasing of office, industrial and flex buildings, land, and aviation properties. I serve as a broker and advisor to developers and users in the purchase, sale, and lot layout of business, office and industrial land subdivisions. I also consult with and negotiate on behalf of owners, users and developers on build-to-suits.

With more than 35 years of industry experience as a sales leader, developer and real estate consultant, I have developed and owned office and industrial buildings, aviation hangars, convenience markets, and lot subdivisions.

I embrace the full-service “Cradle to Grave” approach to commercial real estate:

  • Step 1 – Identifying the site and negotiating the purchase on behalf of the client
  • Step 2 – Using a team approach to lease up the property on behalf of the investor, developer and user
  • Step 3 – Selling the asset at the highest value in the shortest amount of time on behalf of the owner

I began working in the Scottsdale Airpark in 1981, and founded Classic Real Estate Corporation in 1983. In 1998, I sold 50 percent interest in Classic to Colliers International to expand its commercial real estate presence into the Loop 101 Employment Base (Scottsdale Airpark, Desert Ridge, and Deer Valley Airpark).

A native Arizonan, I am married with four children and am actively involved in supporting my community.

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Dillon Hopley

Associate

Scottsdale

As an associate with Colliers International, I specialize in the sale and leasing of commercial properties, focusing on office, industrial, land and investments. I partner with Greg Hopley, executive vice president, in the Scottsdale office.

Our team’s services include landlord and tenant representation, 1031 exchanges, sale/leasebacks, build-to-suits, land acquisition and development, office and industrial condos, aviation hangar sales and leasing, commercial property sales and leasing, and effective and targeted property marketing. Our geographic focus covers metro Phoenix and markets across the U.S.

Representing my clients’ best interests with the highest degree of professionalism, I deliver results that meet their financial goals. Serving as their advocate, I carefully guide clients throughout the entire process of leasing, sales and acquisitions to achieve the best terms possible. Through detailed research and analysis of current market conditions and trends, I assist clients in making strategic real estate decisions that align with their business objectives.

I am committed to providing exceptional service. I am highly responsive, keep my clients fully informed, provide honest and constructive feedback, and value client satisfaction above all else. Clients and peers consider me to be an asset, with traits that include a drive for success, loyalty, honesty, a diligent work ethic and strong leadership qualities.

I joined Colliers International in Arizona as a research associate. In this role, I assisted the research director in producing quarterly research reports for the Arizona market for each property discipline, including office, medical, retail, industrial, multifamily, land and investments. I provided in-depth market analysis, prepared demographic surveys, tracked market activity and compiled statistics in support of sales and marketing efforts. I am well-versed in the use of Nexis, CoStar, MagnifyMaps, Hydra and REscour to produce deep dive extractions of substantive commercial real estate data.

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