$11.7 million transaction for 99,062-square-foot office complex
GLENDALE, Arizona (April 4, 2016) Holualoa Companies has purchased Arrowhead Executive Center, located at 17235 N. 75th Avenue near Arrowhead Mall in Glendale, Arizona, in an $11.7 million transaction.
Plaza Companies is partnering with Holualoa Companies in the transaction and will be offering leasing, property management and construction services for the project.
Renovations and improvements are already underway at the 99,062-square-foot project, which consists of eight one-story office buildings. Bill Cook of Plaza Companies brokered the purchase for Holualoa, and Brett Agner of Everyday Investments represented the seller, NP5 Note, LLC.
Holualoa and Plaza have teamed up on a number of other properties in the Valley, most notably SkySong, The ASU Scottsdale Innovation Center.
Stan Shafer, Chief Operating Officer of Holualoa Companies, said that Arrowhead Executive Center was an inviting property because of its prime location and existing mix of quality tenants.
“We are excited to be able to invest in this exceptional property and help it realize its potential as a hub for business activity in Glendale,” Shafer said. “Arrowhead Executive Center has a high profile in an area full of walkable amenities. We look forward to seeing how this property improves over the course of time.”
Arrowhead Executive Center has available spaces ranging from 1,263 to 13,750 rentable square feet. Perry Gabuzzi and Bill Cook of Plaza Companies will provide leasing services. Plaza Companies is coordinating the improvements to the property that are already underway.
“This is a great property with a strong amount of potential from a leasing standpoint to become even better, and we are very pleased to be a part of it,” said Sharon Harper, President & CEO of Plaza Companies. “The location next to Arrowhead Mall and the close proximity to so many amenities makes this property very inviting for potential tenants, and this area of town continues to emerge as a hub for business.”
With offices in Peoria, Scottsdale and Tucson, Plaza Companies is a full-service real estate firm specializing in the management, leasing and development of medical office and commercial office properties, technology and bioscience facilities, mixed-use properties and senior housing communities. Since 1982, Plaza Companies has established a proud track record as a competitive, connected and conscientious real estate firm with partnerships throughout the industries it serves. For more information, visit www.theplazaco.com.
Holualoa Companies is a real estate investment firm focused on the successful acquisition, repositioning, redevelopment and disposition of real estate assets. Headquartered in Tucson, Arizona, with offices in Phoenix, Santa Monica, Hawaii and Paris, its investments span the United States and Europe and include office, retail, industrial, multi-family, hotel and mixed-use investment properties. Holualoa is an experienced investor for its own account and on behalf of a select group of private investors.