Holliday Fenoglio Fowler, L.P. (HFF) announced the sale of Red Mountain Corporate Center, a 132,263-square-foot office building in Phoenix, Arizona.
The HFF team represented the seller, an institutional investor, and procured the buyer, Alidade Red Mountain, LLC.
Red Mountain Corporate Center is located at 4801 East Washington Street between State Route 143 and Loop 202, providing seamless access to all of Greater Phoenix. Additionally, the property is directly adjacent to the soon-to-be-completed 50th Street Light Rail stop providing immediate access to downtown Phoenix, downtown Tempe and Phoenix Sky Harbor International Airport. Arizona State University, a key driver behind Phoenix’s strong job growth, is located just three miles from Red Mountain Corporate Center. The two-story building sits on 9.7 acres and contains 126,093 square feet of office space and 6,170 square feet of retail space. Floorplates average approximately 63,047 square feet and the property features an abundance of parking with a 6.0 per 1,000 square-foot parking ratio. Red Mountain Corporate Center is 99 percent leased to eight tenants, including Magellan Health.
The HFF investment advisory team representing the seller included director Ben Geelan and analyst Nick Ray.
