11/7/2007

JV acquires Scottsdale office property for $22.4M

by

Mammoth Scottsdale Atrium East

A joint venture between Scottsdale Atrium LLC, Queen Arizona LLC and Highlands Arizona LLC has purchased the Mammoth Scottsdale Atrium East in Scottsdale, Ariz., for $22.4 million from Mammoth Equities Capital Group.

Tracy Cartledge of Grubb & Ellis' Phoenix office represented the joint venture while Alan Pekarcik and Daniel Vittone of Voit Commercial Brokerage represented the seller in the transaction, which closed early last month.

The Atrium East is a two-story office building that contains 71,462 square feet. It was built in 2002 on 3.88 acres by Mammoth Equities and is currently 87 percent leased. Current tenants include American Express Financial Advisors and Cameron and Company, a pharmaceutical staffing company.

Pekarcik is a senior vice president with Voit Commercial and has been with the company since 1998. Prior to that he was VP of acquisitions for Kilroy Realty and also a broker for DAUM//Johnstown American. He holds a degree in Business Administration from the University of Southern California.

Vittone, also a senior VP, joined Voit in 2001 after being a manager at Cushman Realty and a financial analyst with CB Commercial Real Estate Group. He is a graduate of the University of California at Los Angeles with a degree is Business and Finance. Together, Pekarcik and Vittone head Team PV.

Address: 14300 N. Northsight Blvd., Scottsdale, Ariz.

Size: 71,462 square feet

Built: 2002

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Filed Under: Office

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