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El Presidio at Pinnacle Peak Sells for $8M in Scottsdale

JV Flips 60,000-SF Office Bldg.
February 28, 2018
Brentwood Capital, a Victorville, CA-based investor, and a private investor sold the 59,635-square-foot El Presidio at Pinnacle Peak office building in Scottsdale, AZ to a Los Angeles-based private investor for $8.1 million, or roughly $135 per square foot.

The two-story building at 8700 E. Vista Bonita Dr. is leased to tenants including U.S. Title Agency, Simplicity Financial Marketing and Customized Wealth Strategies, among others.

Eric Wichterman, executive managing director, and Michael Coover, senior vice president, of Cushman & Wakefield represented the sellers, which paid $3.4 million for the structure in July 2012. Steve Anavim, senior associate at Conroy Commercial, represented the buyer.

The new owner has retained Wilson Property Services to manage El Presidio at Pinnacle Peak, while Cushman & Wakefield will continue to handle the leasing.

Please refer to CoStar COMPS #4130302 for more information on this transaction.
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