Newmark recently facilitated the sale of 90 Mountain View I, a Class A office and medical office building in Scottsdale. The three-story property spans 91,082 square feet and was sold for $11 million.
The seller, Regent Properties, was represented by Newmark Executive Managing Directors Barry Gabel, Chris Marchildon and CJ Osbrink. According to Gabel, there is strong demand for high-quality office and medical properties in well-located areas.
Situated within the “Scottsdale Cure Corridor,” 90 Mountain View I is conveniently located near the HonorHealth Scottsdale Shea Medical Center with its 427 beds. At the time of sale, the property had an occupancy rate of 86%.
Built in 2000 on a spacious lot measuring at least3.32 acres , this property offers ample parking options including subterranean spaces as well as surface lots adjacent to it.
Regent Properties prides itself on being a vertically integrated investment manager specializing in premier communities across Sunbelt regions.
This recent transaction marks another successful deal within Arizona’s thriving commercial real estate market.
