Hines, the international real estate firm, announced that along with joint venture equity partner PCCP, LLC, it has acquired Kierland One, a Class A, 175,441-square-foot office building located in the North Scottsdale Airpark submarket of Phoenix.
Completed in 1999, the four-story building is located at 16430 N. Scottsdale Road across from the Promenade Shops, within the Kierland master-planned development. Situated on 11 acres and surrounded by first-class amenities, executive housing and the Loop 101 Freeway, the property, which is vacant, is well positioned to attract a new generation of tenants.
Barry Gabel, executive vice president with CBRE, represented the seller in the transaction. Jeff Hartland, executive vice president with Cassidy Turley, will be overseeing leasing.
PCCP, LLC is a premier real estate finance and investment management firm focused on commercial real estate debt and equity investments.
