Phoenix-based developer George Oliver, in partnership with Ascentris, has announced the acquisition of a 162,227-square-foot office building in Old Town Scottsdale for $26.05 million. The property is located at 4141 N. Scottsdale Rd., occupying over 3 acres at the intersection of Scottsdale and Indian School roads.
Known for their expertise in renovating landmark projects such as Arbor in downtown Tempe and CASA in Phoenix’s Uptown neighborhood, George Oliver continues to expand their portfolio with this latest acquisition. Other notable projects include The Alexander and The Johnathan in downtown Chandler and Bond within the Camelback Corridor (formerly known as Connect LA).
The three-story office building also features two levels of subterranean parking and will undergo renovations by George Oliver to enhance its conference spaces for large groups, individual teleconferencing capabilities, podcasting facilities,and other amenities such as on-site concierge services,f itness centers,yoga studios,and dining areas.
JLL’s Senior Managing Director Ben Geelanand Senior Director Will Mast represented Palisades Capital Realty Advisors,the seller of the property,in this transaction.
This news was originally published on Connect CRE.
