Arrowhead Creekside Obliques 1

Cushman & Wakefield Negotiates Sale to Cleveland-based Investor

PHOENIX, June 20, 2016 – Cushman & Wakefield announced today the $11.15 million sale of Arrowhead Creekside, located at 7200 W. Bell Rd. in Glendale, Ariz., on behalf of owner Starwood of Washington, DC.

Cushman & Wakefield Executive Managing Director Eric Wichterman and Senior Vice President Mike Coover successfully negotiated the sale along with Kathleen Morgan of Newmark Grubb Knight Frank, who represented the buyer, Cresendo Development of Cleveland.

“Arrowhead Creekside sits in a highly active and synergistic medical office market populated with substantial hospitals, senior care/skilled nursing facilities and upscale retail amenities,” said Eric Wichterman. “This collection of amenities, coupled with superb freeway access, gives Arrowhead Creekside a strategic and desirable location with respect to healthcare.”

Arrowhead Creekside is an 11 building, 69,858 square foot, medical office campus located in the prestigious Arrowhead Ranch area of Glendale. The complex was constructed in phases with the first buildings completed in 1998 and the most recent in 2006. Located along Bell Road, the property sits a half-mile from Arrowhead Towne Center and just over one mile from the Loop 101 Freeway. The project was 97% occupied at the time of sale.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion across core services of agency leasing, asset services, capital markets, facility services (branded C&W Services), global occupier services, investment & asset management (branded DTZ Investors), project & development services, tenant representation and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.