{"id":1004158832,"date":"2016-11-11T02:44:09","date_gmt":"2016-11-11T10:44:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004158832"},"modified":"2020-04-30T01:02:25","modified_gmt":"2020-04-30T09:02:25","slug":"parallel-capital-nabs-20m-scottsdale-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/parallel-capital-nabs-20m-scottsdale-office-asset\/","title":{"rendered":"Parallel Capital Nabs $20M Scottsdale Office Asset"},"content":{"rendered":"

by Evelina Croitoru<\/p>\n

\"Kierland<\/a>

Kierland Corporate Center<\/p><\/div>\n

Phoenix<\/strong>\u2014San Diego-based Parallel Capital Partners<\/a>\u00a0has announced the purchase of Kierland Corporate Center in Scottsdale, Ariz. The Class A office complex traded for $20 million, being sold by Bataa\/Kierland II LLC.<\/p>\n

\u201cThe center is situated in an ideal Scottsdale location in the 730-acre Kierland master planned community \u2013 considered one of the best addresses in metro Phoenix \u2013 with outstanding tenant demand as well as close proximity to a wealth of housing, dining, retail, resorts and entertainment options. We are thrilled to expand our presence in the Phoenix area \u2013 one of the fastest growing cities in the nation and home to six Fortune 500 companies,\u201d said Matt Root, CEO with Parallel Capital Partners, in a prepared statement.<\/p>\n

Located at 7033 E. Greenway Parkway, the 78,273-square-foot property situated on 3.4 acres of land was built in 2009 and consists of a three-story glass and concrete office complex with modern architecture and onsite parking. At the time of the deal, the property was 87 percent occupied, with the tenant roster including STMicroelectronics, Inc., Eide Bailly, Stifel, Nicolaus & Company and Sherman & Howard.<\/p>\n

\u201cKierland Corporate Center is ideally located adjacent to Kierland <\/a>Commons, the Westin Kierland Resort & Spa, Kierland Golf Club, the Scottsdale Quarter and more and also proximate to a high concentration of executive residences, a well-educated workforce, Loop 101 and Scottsdale Airport. We believe the area is poised for continued growth,\u201d added Root.<\/p>\n

Cushman and Wakefield<\/a> represented the seller and JLL<\/a>\u2019s John Bonnell and Brett Abramson represented Parallel in the transaction.<\/p>\n

Image courtesy of Parallel Capital Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The company has acquired Kierland Corporate Center, a 78,273-square-foot property built in 2009.<\/p>\n","protected":false},"author":1055,"featured_media":1004158833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21747,1601,15],"tags":[],"class_list":["post-1004158832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-office","category-phoenix","category-west"],"acf":[],"yoast_head":"\nParallel Capital Nabs $20M Scottsdale Office Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/parallel-capital-nabs-20m-scottsdale-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parallel Capital Nabs $20M Scottsdale Office Asset\" \/>\n<meta property=\"og:description\" content=\"The company has acquired Kierland Corporate Center, a 78,273-square-foot property built in 2009.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/parallel-capital-nabs-20m-scottsdale-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-11T10:44:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-30T09:02:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Parallel_Kierland-Corporate-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"6016\" \/>\n\t<meta property=\"og:image:height\" content=\"2840\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelina Croitoru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/parallel-capital-nabs-20m-scottsdale-office-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/parallel-capital-nabs-20m-scottsdale-office-asset\\\/\"},\"author\":{\"name\":\"Evelina Croitoru\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e9e65abbef696b705a028580e04c8c99\"},\"headline\":\"Parallel Capital Nabs $20M Scottsdale Office Asset\",\"datePublished\":\"2016-11-11T10:44:09+00:00\",\"dateModified\":\"2020-04-30T09:02:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/parallel-capital-nabs-20m-scottsdale-office-asset\\\/\"},\"wordCount\":272,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/parallel-capital-nabs-20m-scottsdale-office-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/11\\\/Parallel_Kierland-Corporate-Center.jpg\",\"articleSection\":[\"Deals\",\"News\",\"Office\",\"Phoenix\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/parallel-capital-nabs-20m-scottsdale-office-asset\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/parallel-capital-nabs-20m-scottsdale-office-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/parallel-capital-nabs-20m-scottsdale-office-asset\\\/\",\"name\":\"Parallel Capital Nabs $20M Scottsdale Office Asset - 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