{"id":1004192428,"date":"2017-10-04T05:48:21","date_gmt":"2017-10-04T13:48:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004192428"},"modified":"2022-12-03T19:46:33","modified_gmt":"2022-12-04T03:46:33","slug":"phoenix-commerce-center-trades-for-14m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-commerce-center-trades-for-14m\/","title":{"rendered":"Phoenix Commerce Center Trades for $14M"},"content":{"rendered":"<p><em>By Tudor Scolca<\/em><\/p>\n<div id=\"attachment_1004192432\" style=\"width: 358px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Pinnacle-Peak-Commerce-Center.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004192432\" data-attachment-id=\"1004192432\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/phoenix-commerce-center-trades-for-14m\/pinnacle-peak-commerce-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Pinnacle-Peak-Commerce-Center.jpg\" data-orig-size=\"750,450\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Pinnacle Peak Commerce Center\" data-image-description=\"&lt;p&gt;Pinnacle Peak Commerce Center at 23751 N. 23rd Ave, Phoenix, AZ&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Pinnacle Peak Commerce Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Pinnacle-Peak-Commerce-Center.jpg?w=750\" class=\"wp-image-1004192432 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Pinnacle-Peak-Commerce-Center.jpg\" alt=\"Pinnacle Peak Commerce Center\" width=\"348\" height=\"209\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Pinnacle-Peak-Commerce-Center.jpg 750w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Pinnacle-Peak-Commerce-Center.jpg?resize=300,180 300w\" sizes=\"auto, (max-width: 348px) 100vw, 348px\" \/><\/a><p id=\"caption-attachment-1004192432\" class=\"wp-caption-text\">Pinnacle Peak Commerce Center<\/p><\/div>\n<p>Orsett Properties sold Pinnacle Peak Commerce Center, located in Phoenix\u2019s Deer Valley submarket. Nicola Crosby purchased the\u00a0flex\/industrial asset for $14.1 million, in a deal arranged by Kidder Mathews. This is the second <a href=\"https:\/\/www.commercialsearch.com\/news\/110-ksf-industrial-asset-trades-in-phoenix\/\">Phoenix industrial property<\/a>\u00a0acquired by the asset management firm. In both deals, Kidder Mathews was retained as manager of the buildings.<\/p>\n<p>Pinnacle Peak Commerce Center is a 93,725-square-foot single story flex office industrial building. Built in 2005, it occupies approximately six acres at 23751 N. 23rd Ave. in Phoenix.\u00a0The location allows for convenient access to surrounding areas via Interstate 17, Pinnacle Peak Road and Loop 101 freeway.\u00a0Currently, the property is 100 percent leased, its three tenants being RevSpring, Suntec Concrete, and Arizona State Parks &amp; Trails.<\/p>\n<p>\u201c<em>Given its strong location, excellent curb appeal and secure in-place cash flow, this asset will be a great addition to our growing portfolio in the Phoenix market,<\/em>\u201d said Mark Hannah, senior vice president of acquisitions at Nicola Crosby, in a prepared statement. \u201c<em>All the tenants were relatively new occupants of the building and required extensive tenant improvements. Orsett Properties stood up to the task of re-positioning the building to accommodate the businesses.<\/em>\u201d added Mike Ciosek, senior vice president &amp; managing partner at Kidder Mathews, in a prepared statement.<\/p>\n<p>Ciosek, along with Senior Vice Presidents Darren Tappen, Peter Beauchamp and Eric Bell represented both parties in the transaction.<\/p>\n<p><em>Image courtesy of Kidder Mathews<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kidder Mathews brokered the sale of a 93,725-square-foot industrial asset known as Pinnacle Peak Commerce Center. The company was retained to manage the property.<\/p>\n","protected":false},"author":1284,"featured_media":1004192432,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1601,15],"tags":[33612,37366],"class_list":["post-1004192428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-phoenix","category-west","tag-kidder-mathews","tag-nicola-crosby-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Phoenix Commerce Center Trades for $14M - 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\/phoenix-commerce-center-trades-for-14m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Commerce Center Trades for $14M\" \/>\n<meta property=\"og:description\" content=\"Kidder Mathews brokered the sale of a 93,725-square-foot industrial asset known as Pinnacle Peak Commerce Center. The company was retained to manage the property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenix-commerce-center-trades-for-14m\/\" \/>\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=\"2017-10-04T13:48:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-04T03:46:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Pinnacle-Peak-Commerce-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\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\\\/phoenix-commerce-center-trades-for-14m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-commerce-center-trades-for-14m\\\/\"},\"author\":{\"name\":\"Tudor Scolca\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"headline\":\"Phoenix Commerce Center Trades for $14M\",\"datePublished\":\"2017-10-04T13:48:21+00:00\",\"dateModified\":\"2022-12-04T03:46:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-commerce-center-trades-for-14m\\\/\"},\"wordCount\":249,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-commerce-center-trades-for-14m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/10\\\/Pinnacle-Peak-Commerce-Center.jpg\",\"keywords\":[\"Kidder Mathews\",\"Nicola Crosby Real Estate\"],\"articleSection\":[\"Deals\",\"Industrial\",\"Investment\",\"Phoenix\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-commerce-center-trades-for-14m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-commerce-center-trades-for-14m\\\/\",\"name\":\"Phoenix Commerce Center Trades for $14M - 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