Paradise Valley Corporate Center Conveys for over $37 Million

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The four-story Paradise Valley Corporate Center office complex sold Tuesday to an investment entity managed by Buchanan Street Partners. The sale totaled $37.4 million, or $188 per square foot. This was a cash-only transaction.

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This nearly 200,000 square foot office was built in 2002 near the southeast corner of Cactus Road and Tatum Boulevard. It includes a six-story parking structure with just under a thousand covered parking spaces.

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Anchor across from Paradise Valley Mall Sells for $10.4 Million

Parcel Map

The anchor building at 4519 E Cactus Road, just across from Paradise Valley Mall, sold Thursday for $10.4 million, or $153 per square foot. Scottsdale investor Pavo Milicevic is the new owner of the property, of which a portion is currently net leased to home furnishings retailer "Homegoods". The other 34,408 square feet is currently vacant.

Adjacent tenants to the anchor include "Party City", "TJ Maxx", "Sally Beauty Supply", and "Audio Express", as well as nearby "IHOP" and "McDonalds" restaurants. The sale was funded by a $4.5 million loan with Wells Fargo Bank.

For more information on this property including complete lease information, history, and buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!