"The location is great," says Gwen Musfeldt, an associate at Cushman & Wakefield of Arizona Inc.'s Phoenix office. "It's not so far north. Once you get a little farther north on Scottsdale Road, it gets really congested."
Little Rock, AR-based Alltel Corp. renewed 10,167 sf with AmeriVest Properties Inc. of Denver, which bought the 11333 N. Scottsdale Rd. office building last year for $12.3 million. Alltel, the original lead tenant in the five-year-old building, worked out a renewal with an $800,000 payout over the term, Jerry Jacobs of Cushman & Wakefield's Phoenix office tells GlobeSt.com.
Santa Barbara, CA-based Mercer Advisors signed a three-year lease, worth $411,000, for 5,941 sf. The medical profession consultant and financial planner intends to open doors office this month.
Suites at Scottsdale Norte range from 1,247 sf to 11,149 sf, with rents averaging about $24 per sf. A chief selling point is its close proximity to the Airpark and Loop 101.
Jacobs, Musfeldt and Larry Downey, all with Cushman & Wakefield of Arizona Inc., represented AmeriVest. Alltel's broker was Flint McNaughton of North Point Real Estate LLC in Savannah, GA, and Mercer Advisors was represented by Mike Santellanes and Pete Rich, both in the Phoenix office of Coldwell Banker Commercial.
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