The Plaza at Squaw Peak, a 428,044-square-foot Class B office building, has been sold to BH Properties, a Los Angeles commercial real estate investment company.
Located on 16th Street and Morten Avenue in Phoenix, this transaction represents BH Properties’ highest valued asset purchased to date.
BH Properties purchased the property from IX CW Plaza Squaw Peak, LP, who had acquired the asset as a part of a portfolio.
Built between 1985 and 1987, the property consists of three separate office buildings set on a total of 24.15 acres surrounded by a 250-room Hilton Resort and adjacent retail amenities near the Phoenix Mountain Preserve.
Early on, the redevelopment team at Capital Asset Management identified numerous potential value added opportunities for a potential buyer, including a Class A office site and high-end condominiums, both of which would maximize the views of the Squaw Peak Mountains.
