AZ Central ? Kierland 'green' office building sold ? Scottsdale ...

AZ Central ? Kierland ?green? office building?sold

Published June 1, 2012 Blogroll , Commercial Real Estate

A Canadian real estate investment trust has purchased north Scottsdale?s MAX at Kierland office building for $79 million, a broker involved in the deal said Wednesday.

Artis REIT, based in Winnipeg, Manitoba, purchased the six-story, 258,000-square-foot ?green? building, according to commercial real-estate firm CBRE.

CBRE brokers Barry Gabel and Mindy Korth in Phoenix and Kevin Shannon and Ken White in Los Angeles represented the seller, a joint venture between New York-based Clarion Partners and Dallas-based Trammell Crow Co.

MAX at Kierland, 16220 N. Scottsdale Road, was about 90 percent leased at the time of sale and garnered the highest price per square foot of any Phoenix-area multi-tenant office property sold since 2008, CBRE said.

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