Scottsdale Investor Purchases 134,856 SF The Peaks Office Buildings
Peaks Corporate Park LLC of Scottsdale purchased The Peaks Office Buildings — two, 2-story office buildings at 7669 and 7689 E. Pinnacle Peak Rd. in Scottsdale.
Built in 2008, the ±134,856 SF project is located just south of the SEC of Pinnacle Peak and Miller roads. Eric Wichterman, Mike Coover, Jeff Wentworth, Blake Hastings and Sean Spellman with Cassidy Turley BRE Commercial, negotiated the $7.7M ($57.10 PSF) sale on behalf of the seller, Phoenix IED Pinnacle Peak SB Return LLC.
The project went into foreclosure with the lender, Armed Forces Bank, a division of Dickinson Financial Corp., taking title in 2009. Doug Claussen with Dickinson Financial represented the seller. Keith Mishkin with Cambridge Properties represented the buyer.
Located on ±7.21 acres, The Peaks Office Buildings includes two buildings that were never built-out or occupied and were in “gray shell” condition at the time of sale. The project includes underground parking and balconies from the second floor with views of the McDowell Mountains.
Wichterman and Coover are with Cassidy Turley BRE Commercial’s Capital Markets Group. Wentworth, Hastings and Spellman are with Cassidy Turley BRE Commercial’s Office Services Group.