Parallel Buys 78K-SF Kierland Corporate

Parallel Capital Partners Inc. bought the 78,273-square-foot Kierland Corporate Center II in Scottsdale, AZ from Bataa/Kierland LLC. The three-story building, which delivered in 2009, sold for $20 million.

Situated on 3.4 acres at 7033 E. Greenway Pkwy., the facility is 87% leased. The tenant roster includes STMicroelectronics Inc., accounting firm Eide Bailly, law firm Sherman & Howard and financial company Stifel, Nicolaus & Co. The asset is in the 730-acre, master-planned Kierland community.

The buy means the San Diego-based Parallel owns more than 2.3 million square feet of office and retail space in the Phoenix metro.

For comments, questions or concerns, please contact Amy Sorter