Silver Creek Development Acquires Office Property In Phoenix, AZ For $48.5M

The office property located at 25800 North Norterra Parkway in Phoenix, AZ has been sold for a total of $48,500,000. The transaction took place on November 12, 2021. The property spans 144,800 square feet, resulting in a price per square foot of $335. The sale involved the buyer, Silver Creek Development, represented by Charles Essig, and the seller, USAA Real Estate & Metro Commercial Properties Inc.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $48,500,000
• Address: 25800 North Norterra Parkway, Phoenix, AZ
• Market: Phoenix, AZ

The buyer, Silver Creek Development, was represented by Charles Essig. On the other hand, the seller was USAA Real Estate & Metro Commercial Properties Inc. The sale was facilitated by brokers Chris Toci and Chad Littell from Cushman & Wakefield.