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PayPal’s Scottsdale Mission Critical Facility Sold for $31M
Denver-based Buchtel Realty Investors acquired 90 Mountain View Phase II in Scottsdale, AZ from Los Angeles-based Regent Properties for $30.5 million. Located at 9999 N. 90th St., the three-story, 92,562-square-foot, single-tenant office building is currently 100% occupied by PayPal.
The building serves as one of PayPal’s four global, mission-critical Network Operations Centers. Developed in 2005, the Class A, institutional-quality property has millions invested in the building for the mission-critical operations center use.
Pinnacle Real Estate Advisors’ Rob Edwards and Tom Ethington represented the purchaser, a private family-owned real estate company. Cushman & Wakefield’s Steve Lindley, Bob Buckley, Tracy Cartledge, along with Andrew Bogardus and Douglas Longyear negotiated the transaction on behalf of the seller.
C&W’s Lindley says, “The property was an ideal investment for risk-averse buyers, including a long-term lease, prestigious Scottsdale address, well known credit tenant, and mission-critical use.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition