November 21, 2024 4:03 pm
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Trammell Crow buys Scottsdale parcel

AZBigMedia

AZBigMedia

CBRE announced the sale of an 8.24-acre site located at the southwest corner of Raintree Drive and 87th Street in Scottsdale, Ariz. The land commanded a sale price of $11.5 million.

Barry Gabel, Chris Marchildon, Will Mast and Mitchell Stravitz of CBRE represented the seller, Liberty Property Trust, in the transaction. The buyer was Trammell Crow Company (TCC), one of the nation’s leading developers and investors in commercial real estate. Bryan Taute, also of CBRE, will be retained by TCC as the exclusive leasing agent for the future planned development. 

The infill site features a high-profile location within the Scottsdale Airpark submarket with over 1,000 square feet of frontage on Raintree Drive. The land is positioned adjacent to Vanguard’s regional headquarters and nearby to numerous corporate tenants, including Republic Services, Hartford Insurance, American Express, Choice Hotels, Morgan Stanley and Fender.

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