The seller was MACP Kierland Fairways, LLC, a subsidiary of Montana Avenue Capital Partners and the buyer was Valwood Element, LLC. The property located at 14614 N. Kierland Blvd. sold for $17.3 million.
Eric Wichterman and Mike Coover of Cushman & Wakefield represented both the buyer and seller in the transaction.
Situated within the prestigious Kierland master-planned community of north Scottsdale, the Element at Kierland is a 57,662-square-foot upscale multi-tenant office building that 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.
Eric Wichterman stated, “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.”