10/16/2007

CBRE Phoenix brokers sale of Raintree Office Center

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Raintree Office Center

Walker Family Trust of Kent, Wash., has paid $21.1 million to Scottsdale, Ariz.-based Byxbee Development Partners for the Raintree Office Center in Scottsdale, Ariz.

Glenn Smigiel of CB Richard Ellis' Phoenix office brokered the transaction.

The office building, which Byxbee developed in 2000, is located on 10.8 acres at 8801 E. Raintree Drive. The 111,206 square foot property currently has three tenants: Caremark PCS Inc., eTelecare Global Solutions and Sage Software Inc.

Senior Vice President Smigiel has been with CBRE since 1986 and now specializes in building acquisition and disposition. Prior to joining CBRE, he was a computer systems salesman for Burroughs Corporation (now Unisys). Smigiel was CBRE's 1988 Rookie of the Year.

Address: 8801 E. Raintree Drive, Scottsdale, Ariz.

Size: 111,206 square feet

Built: 2000

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Filed Under: Office

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