West 101 Corporate Center sells for $17.5M

West 101 Corporate Center sells for $17.5M

 
Article Originally Posted By AZBigMedia On December 13, 2021
 
 
 

Cushman & Wakefield has brokered the sale of West 101 Corporate Center, an 81,040-square-foot, multi-tenant Class A office property in Phoenix, Arizona. Located at 1860 N 95th Lane in the West Valley trade area, the building was acquired by Overstreet Project LLC, a Nevada-based investor, for $17.5 million. The asset was approximately 93% leased at the time of sale.

The seller was Next Gen 101, LLC, an entity of Helix Properties, which was represented in the transaction by Eric Wichterman and Mike Coover of Cushman & Wakefield.

“Situated in Phoenix Metro’s thriving West Valley market, the West 101 Corporate Center is a best-in-class office asset with prominent freeway visibility and frontage,” said Eric Wichterman, Executive Managing Director. “The building features institutional-quality architecture with commanding curb appeal and a quality tenant base—the largest tenant in the project signed a long-term renewal in early 2021—and a lease deal on one of the two existing vacant suites was underway at the time of the close.”

Mike Coover, Managing Director, added, “The recent opening of two new freeways in the area has spurred tremendous residential and commercial demand and growth in the West Valley, which will lead to a bright future for its office market.”

Built in 2008, West 101 Corporate Center is a three-story, high-image Class A office building positioned within a half-mile of Interstate 10. The property is also within close proximity to State Farm Stadium, home of the Arizona Cardinals, and the Westgate Entertainment District.