CORFAC News

13 Jun2018

Commercial Properties Inc./CORFAC International Announces $8.6 Million Sale of Pinnacle at Desert Cove

Commercial Properties, Inc./CORFAC International, Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of The Pinnacle at Desert Cove office medical building. The property is located at 9097 East Desert Cove Drive, just east of the Loop 101 Freeway and north of Shea Boulevard in Scottsdale, Arizona.

The building is approximately ±31,509 square feet and is located 1.5 blocks from Scottsdale Shea Medical Center. The property was built in 2004 and offers numerous retail amenities within walking distance for tenants. Ken Elmer, Senior Vice President at CPI along with Senior Vice President Ron Schooler and Vice President Scott Nelson of CPI’s Office Team represented the seller, TKK LLC.  

Elmer commented, "The property was 100% occupied at the time of the sale. We identified the 1031 buyer who liked the stabilized asset and its proximity to the hospital which led them to purchase the property.”  

EP Desert Cove, LLC purchased the property for $8.6 million ($272.93 psf).

Ken Elmer, Ron Schooler or Scott Nelson may be contacted for additional information at kelmer@cpiaz.com at 480.522.2778, rschooler@cpiaz.com at 480.522.2770 or snelson@cpiaz.com at 480.522.2790.

About Commercial Properties Inc./CORFAC International
CPI is a CORFAC International affiliate, full-service Brokerage and Property Management firm for all product types. Headquartered in Tempe, Arizona, the company has more than 55 brokers and occupies two offices locally. Currently, CPI's listings include over 20 million square feet for sale/lease and more than 190 projects under property management, totaling over 11.4 million square feet. Please visit our website at www.cpiaz.com.
 

 

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Locally Owned. Globally Connected

CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 46 firms in the U.S., six in Canada and 28 in international markets, including Australia, Colombia, France, Germany, Ireland, Israel, Italy, Mexico, Romania, Russia, South Africa, South Korea, Switzerland and the United Kingdom. CORFAC offices completed more than 10,000 lease and sales transactions totaling 500 million square feet of space valued in excess of $8.0 billion in 2017.