Continental Plaza is located at 11000 N. Scottsdale Rd. in the heart of the city. "The location was the main attraction," Eric Wichterman of Grubb & Ellis|BRE Commercial LLC tells GlobeSt.com, adding that the Freedom, CA-based MFJK Partnership put the building under contract less than one week after it hit the market.
Built in 1984, Continental Plaza is fully leased to several local tenants like attorneys, real estate professionals and a dentist. Wichterman says most tenants have been in the building many years. The quoted rent is $20 per sf.
Wichterman teamed with Stan Shafer, Jeff Wentworth and Blake Hastings to market the property for the seller. Marty Chiechi with Grubb & Ellis Co.'s San Jose, CA office steered talks for the buyer.
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