Staff Reports | Business & Commerce
Cushman & Wakefield announced it arranged the sale of Paradiso, a two-story, multi-tenant medical office building at 11000 N. Scottsdale Road in Scottsdale. The property sold for $13.3 million, according to a press release.
Cushman & Wakefield’s Capital Markets team — Eric Wichterman, Alexandra Loye, Chris Toci and Mike Coover — represented the seller, Mark IV Capital Properties. The buyer was Albany Road Real Estate Partners LLC.
“This transaction highlights the ongoing demand for high-quality medical office assets in premier Scottsdale locations,” said Mr. Wichterman.
“Paradiso’s combination of stable occupancy, modern amenities and direct access to some of the Valley’s most affluent residential neighborhoods made it a compelling investment opportunity. The property’s small suite configuration, private entrances and outdoor spaces are especially attractive to today’s medical tenants seeking flexibility and a patient-friendly environment.”
Paradiso totals approximately 59,445 square feet and features a central courtyard with decorative fountains and seating areas, private entrances and balconies, covered breezeways, patios off several ground-floor suites and full-length storefront windows.
The property is near the intersection of Shea Boulevard and Scottsdale Road, at the gateway to Paradise Valley and adjacent to four of the Valley’s most prestigious residential communities: Paradise Valley, Gainey Ranch, McCormick Ranch and Scottsdale Ranch.
