10/23/2007

Cushman & Wakefield Phoenix sells Pinnacle Business Center

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23040 N. 11th Ave.

Irvine, Calif.-based Cornerstone Real Estate Funds has purchased the Pinnacle Business Center II in the Phoenix suburb of Deer Valley, Ariz., for $20 million from LaPour Partners, a Las Vegas developer led by Jeff LaPour.

Steven Sayre, a senior director with Cushman & Wakefield's Phoenix office brokered the transaction and is also the leasing agent for the property.

The 159,714 square foot office property is located at 23040 N. 11th Avenue and is 96 percent occupied with tenants that include Diamondback Tactical, Premiere Industrial Supply and RFK Architectural.

Deer Valley is roughly 20 miles north of Phoenix.

Address: 23040 N. 11th Ave., Deer Valley, Ariz.

Size: 159,714 square feet

Built: 2006

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Filed Under: Office

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