Cushman & Wakefield Negotiates Purchase of Ocotillo Springs

PHOENIX, June 13, 2017 – On behalf of San Francisco-based Fowler Property Acquisitions, LLC, Cushman & Wakefield recently negotiated the purchase of Ocotillo Springs, a 272-unit community located at 825 West Queen Creek Road in Chandler, Ariz., for $40.5 million.

Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis of the Phoenix office represented the buyer. The seller was Ocotillo Springs Associates, LLC (Crown Realty & Development, Inc.) of Cost Mesa, Calif.

“The buyer was attracted to the asset because of the quality of the property, the value-add potential and the dynamic job growth in the Chandler submarket,” said Nicoluzakis.

Built in 1998, Ocotillo Springs offers newly renovated one-, two- and three-bedroom floor plans that are equipped with deluxe kitchens, living spaces, washers and dryers and private patios. The 18-acre waterfront property includes swimming pools and spas, water features and ponds, trails and a state-of-the-art fitness center. In addition, the lifestyle community is within easy access to the AZ Loop 202 and minutes from the Phoenix Sky Harbor International Airport.

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 45,000 employees in more than 70 countries help occupiers and 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 $6 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. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.