Newmark has been engaged to market three Class A office properties across the Phoenix metro area, bringing a combined 545,000 square feet of institutional-quality space to the investment sales market. According to reporting from the Phoenix Business Journal, the portfolio spans Chandler, Scottsdale and Phoenix and is being led by Newmark brokers Barry Gabel, Chris Marchildon and CJ Osbrink.
In Chandler, the assignment includes One Chandler Corporate Center at 350 N. McClintock Drive. The two-story office building totals 117,394 square feet and was delivered in 2018. The property is fully leased, and public records cited in the report indicate that an entity connected to Strategic Office Partners purchased the asset in 2019 for $25.2 million.
The Scottsdale component is Northsight Corporate Center at 14400 N. 87th Street, within the Scottsdale Airpark area. Vertical Ventures acquired this property in 2024 from CIM Group for $42.25 million. The article notes that Vanguard is a tenant at the property and has a lease in place, with plans to invest additional capital into building upgrades. No further details on the scope or timing of those improvements were provided.
The third listing is The Summit, a two-building office complex located in Phoenix’s Piestewa Peak Corridor. The property totals 280,904 square feet of Class A office space. Newmark has set a call for offers on The Summit for July 15, signaling that the formal marketing process for that asset is underway. The article does not disclose current occupancy, tenant roster, or pricing guidance for the complex.
Across the three properties, Newmark’s assignment highlights a mix of newer product, fully leased space and an established corporate tenancy, all positioned in core suburban and infill submarkets of the Phoenix region. While the report references historical acquisition prices for two of the assets, it does not specify the current asking prices, expected cap rates or targeted buyer profiles for the current marketing process.
No additional information was provided on current owners’ disposition strategies, debt structures or potential transaction timelines beyond the announced call for offers date for The Summit. The report also does not indicate whether the properties are being marketed individually or as a potential portfolio sale, or how buyer interest is tracking to date.
