cottoncorporatecenteriii

Cushman & Wakefield Negotiates 42,559 SF Sale to Scottsdale Investor

PHOENIX, October 20, 2016 – Cushman & Wakefield announced today that Cotton Corporate Center III, located at 4720 East Cotton Gin Loop in Phoenix, sold to Scottsdale-based Development Services of America (DSA) for $7.5 million.

Bob Buckley, Tracy Cartledge, Steve Lindley, Ben Geelan, Eric Wichterman and Mike Coover with Cushman & Wakefield represented the seller in the transaction, DPC Companies of Denver.

Cotton Corporate Center III is a two-story, Class A suburban office building, totaling 42,559 square feet. Encompassing 3.46 acres and currently 82% occupied, the project is configured for small-to-medium spaces with award-winning, best-in-class buildouts.

“The offering combined a stable income for the investor, with lease expirations totaling only eight percent of the space before 2019, with potential for significant upside through the lease up of available space,” according to Buckley.

The property is located in Cotton Center, one of the most prestigious business parks in metro Phoenix. Developed in 1998, this 280-acre business park includes more than 3.1 million square feet of institutional-quality buildings. The majority of the development consists of large-floor-plate corporate office, which is complemented with institutional R&D, service retail and hospitality space. Several Fortune 500 and other corporate users call this park home, including Aetna Insurance, CVS Caremark, Siemens, Progressive Insurance, Shutterfly, Freeport McMoRan and GE Healthcare.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.