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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.”

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About Dennis Kaiser

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 including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition