Red Rock Business Center consists of four class B office buildings totaling 42,126 square feet, along with a 1.63 acre parcel for a fifth and final office building. Located at 17100 E. Shea Blvd. and 9624 N. Monterey Rd., the property was built in phases from 1998 to 2008.
Currently, the property is 50 percent occupied with local tenant and regional offices including Prudential Properties and Edward Jones. The asking lease rate for the buildings is $19 to $20 per square foot, full-service.
"The condition of the buildings is very good, but the property does offer a value-added opportunity in that the buildings need to be leased and stabilized," says Mike Coover, vice president with Cassidy Turley BRE Commercial's Investment group. He and Eric Wichterman, executive vice president in the same group, represented the buyer, BRM Arizona LLC, and the seller.
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