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CityCenter of CityNorth, Phoenix, AZ |
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| Ryan Gallagher |
IRVINE, CA – HFF announced today that it has closed the sale
of the CityCenter of CityNorth, an approximately 630,000-square-foot
mixed-use project in Phoenix’s Desert Ridge master planned community.
.JPG) |
| CJ Osbrink |
HFF marketed the property on behalf of the seller. Portland-based private real estate firm
ScanlanKemperBard and a private investment fund managed by Wayzata Investment
Partners LLC (“Wayzata”) through the newly-formed City North Associates LLC
purchased the asset.
Lee & Associates
acted as the local market leasing team on the transaction.
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| Ryan Fitzpatrick |
CityCenter of CityNorth is located at 5310-5455 High Street
along Loop 101 in northeast Phoenix.
Completed in 2008, the property includes 99 condominium
rental units, approximately 330,000 square feet of Class A office space,
approximately 175,000 square feet of retail space, nearly five acres of
undeveloped land and a six-level parking structure.
The HFF investment sales team was led by senior managing
director Ryan Gallagher and associate director CJ Osbrink along
with director Ryan Fitzpatrick, managing director Bryan Ley,
senior managing director Jim Batjer and managing director Mark
Wintner.
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| Bryan Ley |
The Lee & Associates team representing the buyer was led
by principals Chris Krewson and Mike Garlick.
ScanlanKemperBard Companies (“SKB”) was established in
Portland, Oregon in 1993 with the intent of capitalizing on the real estate
experience, skills and vision of its founders.
Since that time, SKB
has become one of the region’s leading real estate private equity firms
specializing in projects ranging in total capitalization from $5 million to
$100 million located throughout the western United States.
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| Mark Wintner |
Lee & Associates Arizona specializes in providing
exceptional commercial brokerage services to the industrial, office, land and
investment sectors of the Phoenix commercial real estate market.
The Phoenix office was established in 1991 and is now
recognized as one of the most successful brokerage firms in the state. Each of the 47 nationwide Lee &
Associates offices has a strong local ownership combined with a powerful
platform from the national Lee & Associates network.
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For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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