CBRE completed the $29.85M sale of a 127,750 SF office building at 17600 N. Perimeter Dr. in Scottsdale. The 2-story structure is the headquarters for Fender Musical Instruments Group, which moved into the building earlier this year.
Jim Fijan in CBRE’s Phoenix office represented the seller, WDP Partners LLC of Phoenix, and structured the sale. The buyer was Bruce Karsh of Los Angeles.
“This sale completes a hat-trick for our team,” said Fijan, who along with Kevin Calihan sold the empty building to WDP Partners in 2010, then leased up the property for its new owner and completed the subsequent sale to Karsh.
The Class A office building is located in the prestigious north Scottsdale submarket, which is home to numerous top-rate dining, shopping, lodging and entertainment venues. Its location also has direct access to the Loop 101 Freeway, providing tenants with an easy commute from virtually anywhere in the Valley.
Built in 1999, the property was 100% leased at the time of sale, with Fender occupying 110,000 SF of the building.