Cassidy Turley successfully sold Blackhawk Corporate Center II, a ±36,724 SF, Class B office building at 3050 W. Agua Fria Freeway in Phoenix.
Valley Schools Trust of Phoenix purchased the property for $3.5M ($95.78 psf) from Special Servicer LNR Partners, LLC (John Mitchell, Vice President, REO Asset Management) of Miami Beach.
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.
“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,” Wichterman said.
Built in 2000, Blackhawk Corporate Center II sits on 2.44 acres and is on the North 101 Freeway, west of I-17. The two-story, high visibility project was 55.5% leased at the time of sale. Valley Schools Trust plans to occupy the majority of the vacant space in the building.
