Signature Office Suites building in Scottsdale sells for $6.85M

The Signature Office Suites building, 8585 E. Hartford Dr. in Scottsdale, recently sold to a private investor for $6,850,000.

The Class A, two-story office building features self-contained office suites that were 96 percent occupied at the time of sale to a private investor that purchased the property from Signature Suites SPT LLC – San Pasqual Fiduciary Trust Company – in a 1031 Exchange transaction, according to a press release.

The Class A office building received two different awards for its high-quality design, according to the senior executive vice president of Colliers, Greg Hopley, who represented the seller in the disposition with Jim Keeley and Dillon Hopley of Colliers International in Arizona.

Steven Barger with CRE Property Advisors represented the buyer, the release said. CRE Property Advisors specializes in creating and redeveloping commercial real estate projects in North Scottsdale, Arizona. Collaboratively with their clients, CRE Property Advisors takes a systematic approach to their development projects: Offering creative real estate solutions which are well thought out & planned, innovatively designed and professionally administrated – resulting in satisfied clients & successful projects. CRE’s experience adds value, but they do what they do better, by thinking differently in this ever-changing industry and challenging the status quo. CRE Property Advisors believe that the buildings they are involved with, are to always be built to an exceptionally high standard of quality.

“The suites feature spectacular desert and mountain views visible through full height glass lines. The property layout also offers a desert oasis courtyard with water features and benches that provide tenants with a very unique indoor and outdoor work environment. Plus, the overall demographics are some of the best in the entire Valley,” said Mr. Greg. Hopley in a prepared statement.

Built in 2000, the building contains approximately 27,797 rentable square feet of office space, according to the release.

Situated on 2.13 acres of land, the property’s interior was remodeled in 2017-2019 and features breakrooms with granite-topped entertainment bar with hardwood cabinets.

Moderni LED lighting, wood blinds, 11-foot ceilings and updated private restrooms provide tenants with high-end office space amenities, the release noted.

First Posted Friday, September 25, 2020 12:50 pm – Independent Newsmedia