Palisades Capital picks up $34.5M office building on Scottsdale Road

1421858815[1]By Business Real Estate Weekly

Palisades Capital Realty Advisors LLC in Los Angeles, Calif. (Joaquin de Monet, principal) has added to its fast growing Valley office portfolio with the purchase of a property in Old Town Scottsdale.

A company formed by Palisades Capital Realty Advisors paid $34.5 million ($234.13 per foot) to buy the 147,356-square-foot building, which is at 4141 N. Scottsdale Road. The seller was 4141 N. Scottsdale Road Holdings LLC, formed by Westport Capital Partners in Wilton, Ct. (Russel Bernard, et al., principals).

The deal was brokered by Brian Ackerman, Dennis Desmond and Chris Latvaaho of Jones Lang LaSalle in Phoenix.

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