April 19, 2024 3:17 am
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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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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.