Albany Road Real Estate Partners Acquires Medical Office In Scottsdale For $13.3M

Albany Road Real Estate Partners acquired a medical office property located at 11000 Scottsdale Road in Scottsdale, AZ. The property spans 59,400 square feet and was purchased for $13,300,000, equating to $224 per square foot. The asset is currently 86% leased and features high-end amenities while being strategically situated near Shea Blvd and Scottsdale Rd, an area known for its retail and dining options.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $13,300,000
• Address: 11000 Scottsdale Road
• Market: Scottsdale, AZ
• Square Footage: 59,400
• Price per Square Foot: $224
• Buyer: Albany Road Real Estate Partners
• Seller: Mark IV Capital Properties
• Brokerage: Cushman & Wakefield
• Brokers: Eric Wichterman, Alexandra Loye, Christopher "Chris" Toci, and Mike Coover

The acquisition was facilitated by a team of brokers from Cushman & Wakefield, including Eric Wichterman, Alexandra Loye, Christopher "Chris" Toci, and Mike Coover, who represented the interests of the buyer in this transaction.