DTZ, a global leader in commercial real estate services, announced today that Safari Drive Marketing, LLC (ST Residential, LLC) has sold Safari Drive, Phase II, a ±1.85-acre development site that includes four existing commercial units totaling ±7,694 square feet. Safari 159, LLC purchased the site located north of the northeast corner of Scottsdale and Camelback roads for $2.85 million ($35.37 per SF).
DTZ’s Executive Managing Directors David Fogler and Steven Nicoluzakis and Managing Director Don Arones represented ST Residential during the transaction.
“The Safari Drive Phase II development site offered the buyer a premier location at Scottsdale’s most high-profile intersection, with a Scottsdale Road entrance and frontage along the Arizona Canal,” according to Mr. Nicoluzakis.
Safari 159, LLC indicated they are holding the property as an investment.
DTZ is a global leader in commercial real estate services providing occupiers, tenants and investors around the world with a full spectrum of property solutions. Our core capabilities include agency leasing, tenant representation, corporate and global occupier services, property management, facilities management, facilities services, capital markets, investment and asset management, valuation, building consultancy, research, consulting, and project and development management. DTZ manages 3.3 billion square feet and $63 billion in transaction volume globally on behalf of institutional, corporate, government and private clients. Our more than 28,000 employees operate across more than 260 offices in more than 50 countries and proudly represent DTZ’s culture of excellence, client advocacy, integrity and collaboration. For further information, visit: www.DTZ.com or follow us on Twitter @DTZ.