Billings, MT-based Cloud Peak Development, LLC acquired Paradise Valley Plaza in Paradise Valley from Solana Beach, CA-based Fenway Capital Advisors for nearly $16.75 million. The office property consists of three, two-story buildings totaling 100,241 square feet.
The complex at 5010, 5020 and 5040 E. Shea Blvd. sits on nearly six acres. It features expansive frontage along Shea Boulevard and was 92% leased at the time of sale to a diversified tenant mix. Two buildings were developed in the 1980s and another in 2000, with the entire campus undergoing a renovation in 2015.
Cushman & Wakefield’s Eric Wichterman, Mike Coover, Steve Lindley, Robert Buckley and Tracy Cartledge represented the buyer and seller in the transaction.
Wichterman says, “The property’s location, recently completed renovation and rare Santa Fe architectural design have all contributed to its exceptional historical occupancy rate of well over 90% over the last twenty years.”
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.