**Scottsdale Office Building Sells for $70.7 Million**
A 179,360-square-foot Class A office building in Scottsdale has been sold for $70.7 million in one of the city’s most significant office transactions of the year.
The property, known as Axis Raintree, was sold by Trammell Crow Company to an entity affiliated with D.R. Horton. The building, located at 8605 E. Raintree Drive, was completed in 2022 through a partnership between Trammell Crow Company and PGIM Real Estate.
Axis Raintree features several amenities, including a location of Press Coffee, a 5,000-square-foot outdoor space, and a dedicated training room. The three-story building sits on 5.12 acres.
Pulte Homes is the property’s largest tenant, having signed a lease for 50,000 square feet in May 2024.
The transaction ranks among the largest office sales in the region this year. Only the $645.1 million acquisition of Scottsdale Quarter by FalconEye Ventures in June has surpassed it.
In the Axis Raintree deal, Jenny Knowlton of CBRE represented the seller, while the buyer was represented by Brad Anderson and Mike Strittmatter of Cushman & Wakefield.
