PREG Scottsdale LLC Acquires Scottsdale Office Building For $26.5M

New York Life Real Estate Investors has successfully completed the sale of Scottsdale Northsight, a three-story, 138,693-square-foot office building located at 14350 North 87th Street in Scottsdale, Arizona. The property was sold for a total price of $26.5 million, resulting in a price per square foot of $191.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $26,500,000
• Square Footage: 138,693
• Address: 14350 North 87th Street, Scottsdale, AZ
• Market: Scottsdale, AZ

PREG Scottsdale LLC acquired the property from Naïm Abou-Jaoudé, represented by New York Life Real Estate Investors. The deal was facilitated by the brokers Chris Toci, Eric Wichterman, and Mike Coover from Cushman & Wakefield.

Notable for its size and location, Scottsdale Northsight offers an excellent opportunity for investment in the sought-after Scottsdale office market. The transaction marked a successful exit for New York Life Real Estate Investors, who offloaded the office building for $26.5 million.