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Scottsdale Multi-Tenant Office Property Snagged for $17M

Element at Kierland, a multi-tenant office property in Scottsdale, was acquired by Valwood Element, LLC for $17.3 million. The seller was MACP Kierland Fairways, LLC, a subsidiary of Montana Avenue Capital Partners.

Situated within the prestigious Kierland master-planned community of north Scottsdale, the 57,662-square-foot upscale multi-tenant office building was built in 1998 and extensively renovated in 2015. The property fronts along the Westin Kierland Golf Course, and benefits from superb walkable amenities concentrated within two upscale lifestyle shopping centers, Kierland Commons and Scottsdale Quarter. The building features extensive creative-style tenant suites and is 98% leased.

Cushman & Wakefield’s Eric Wichterman and Mike Coover represented both the buyer and seller.

Wichterman says, “The Element at Kierland is an outstanding office building filled with quality tenants in cutting-edge office suites and situated in a top-tier location. The property perfectly suited the buyer’s requirement for a long-term investment.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition