Hollywood investor buys Fiesta Tech Business Centre for $11.375M
Cushman & Wakefield announced that Birtcher Anderson Realty of San Juan Capistrano, Calif. sold Fiesta Tech Business Centre, a 91,544-square-foot office campus located at 2150-2220 S. Country Club Drive in Mesa, Ariz. A private investor in North Hollywood, Calif. purchased the property for $11.375 million.
Bob Buckley, Tracy Cartledge and Steve Lindley of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller. Jim Zemezonak of Boulder Realty Advisors represented the buyer.
Built in 1986 and 1991, Fiesta Tech Business Centre was renovated in 2018. Upgrades to the common areas, restroom and parking lot positioned the project to capitalize on the strong Southeast Valley market.
“Fiesta Tech was a successful value-add investment for Birtcher Anderson,” said Buckley. “The renovations they completed in 2018 contributed to strong leasing activity at the property. Now stabilized, Fiesta Tech should prove to be a secure investment for the buyer.”
Fiesta Tech Business Centre is a four-building, single-story suburban office property located on State Route 87, offering major street frontage along Country Club Road. It is currently 94.3 percent occupied by a wide range of tenants, including companies in the legal, healthcare, government/nonprofit, aerospace, education and financial services industries.