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AT&T Building Fetches Y-T-D High for Back Office Sales

SCOTTSDALE, AZ-The 26,265-sf AT&T Building in north Scottsdale has attracted $186.57 per sf, setting a year-to-date sales record for back offices. Wildwood Hills Development of California has shelled out $4.9 million for the one-year-old structure.

By D.J. Burrough | Updated on August 15, 2001

SCOTTSDALE, AZ-A California investor has purchased a Scottsdale back office location for $4.9 million, an indication that office property value is holding firm although the pace of sales has slowed.

The Wildwood Hills Development Corp. of Redding is holding the title to the AT&T Building, a 26,265-sf single-tenant back office building in the city’s north submarket. The sale price equates to $186.57 per sf, perhaps the highest per sf paid this year for back office space.

“The investor was comfortable with the price,” Jan Fincham tells GlobeSt.com, who along with Patrick Dempsey and Mark Linsalata, all principals with the Phoenix office of Lee & Associates Arizona, brokered the sale. “We’ve got some big numbers out there.”

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