PHOENIX—CBRE has negotiated the sale of Kierland II located at 16260 N 71st St. in Scottsdale. The 237,875-square-foot office building commanded a sale price of $49.15 million. The property was approximately 80% leased at time of sale.
Jim Fijan and Will Mast with CBRE's Phoenix office negotiated the transaction. The seller was The Prudential Insurance Company of America. The buyer was Irvine-based LBA Realty, a full service real estate investment and management company.
Fijan tells GlobeSt.com, “The building was originally developed by Prudential in 2001 and they were the single tenant until 2013.
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