Phoenix-based developer George Oliver and joint venture partner Ascentris today announced the $26.05 million acquisition of a 162,227-square-foot office building in the heart of Old Town Scottsdale. A leader in experiential office transformations, George Oliver is known for its renovations of landmark projects such as Arbor in downtown Tempe, CASA in Phoenix’s Uptown neighborhood, The Alexander and The Johnathan in downtown Chandler, and Bond, which is now under construction within the Camelback Corridor.
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George Oliver’s newest acquisition is located at 4141 N. Scottsdale Rd., occupying just over 3 acres at the highly visible northeast corner of Scottsdale and Indian School roads. The building includes three stories of office space and two levels of subterranean parking. The coveted location is surrounded by high-end dining, shopping and residential options, numerous hotels and nightlife venues, and a robust art scene.
“We continue to see strong tenant demand for thoughtfully designed office space in amenity-rich locations,” said George Oliver Founder and Managing Partner Curt Kremer. “The location of 4141 at the center of Old Town Scottsdale delivers us arguably the best canvas for our next office reposition. We are excited about this new partnership with the Ascentris team and are well underway on the design for this great opportunity.”
Sought out for its modern aesthetic design and placemaking that caters to the unique needs of each project submarket, George Oliver office redevelopments offer some of the Valley’s most expansive and award-winning amenity packages. This includes a heavy emphasis on premiere and extensive conference spaces supporting large groups, individual teleconferencing and podcasting. It also includes popular hospitality-centric features such as on-site concierge services, state-of-the-art fitness centers, yoga facilities, luxury locker rooms, dining and bar areas, mother’s rooms, libraries, recreation spaces, game areas, dog patios and on-site EV chargers.
The acquisition of 4141 expands Ascentris’ expansive office and residential portfolio in the Phoenix market.
“Ascentris focuses on partnering with best-in-class operators to develop and own high quality real estate in premier locations within growth markets. We believe George Oliver’s design, redevelopment and operational expertise, combined with 4141’s location at the epicenter of Old Town Scottsdale, is a recipe for success and that, once complete, 4141 will be one of the preeminent office properties in all of Phoenix,” said Ascentris Senior Vice President Jeff Higgins.
JLL’s Senior Managing Director Ben Geelan and Senior Director Will Mast represented the building seller. The design and architecture for the 4141 building is being led by George Oliver Design, with concepts underway now and renovations anticipated to begin in 2025.
