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Liberty Unloads 5-Property Portfolio in Arizona for $255M
A five-building portfolio in metro Phoenix totaling nearly 806,000 square feet has traded hands for $255 million. Pennsylvania-based Liberty Property Trust sold the four-building Liberty Center at Rio Salado in Tempe, and a single-tenant office building located in Scottsdale to an undisclosed buyer.
Developed between 2014 and 2018, Liberty Center at Rio Salado is a 682,406-square-foot office campus located on nearly 41 acres at Priest Drive and Rio Salado Parkway, with visibility from the Loop 202 freeway. The 100%-leased property features four Class A, two and three-story, triple-net leased office buildings.
Developed in 2006, the three-story Scottsdale asset at 8501 East Raintree Dr. features 123,340 square feet of Class A office space.
CBRE’s Barry Gabel, Chris Marchildon and Will Mast represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition