SCOTTSDALE, AZ-After holding the 79,537-square-foot Mesquite Corporate Center for close to four years, DPC Development Co. disposed of the office property to Waittcorp Real Estate LLC for $15.2 million. The buy is Waittcorp's second in the Scottsdale Airpark submarket.

DPC Development of Englewood, CO acquired the asset at 14646 N. Kierland Blvd. in September 2009, at the downturn of the market. At the time, GlobeSt.com reported that the building was 67% occupied and that DPC liked the fact it was in the 750-acre Kierland master-planned community.

At the recent closing, Mesquite Corporate Center was 96% occupied. “This asset was a pleasure to own, and we took a great deal of pride in its presentation and place in the market,” says Christopher King, president of DPC Development Company. “When we purchased Mesquite in 2009, directly during the heart of the economic downturn, we didn't know what the future held. We believed that an asset of this quality would lead a turnaround, and that is in fact what happened. We are pleased to be part a strong and desirable market.”