By Roland Murphy for Arizona Builder’s Exchange
International real estate investment firm Hines has announced the sale of a 1.45-acre retail pad at the Kierland One office building, 16430 N. Scottsdale Road.
Arizona State Credit Union purchased 26KSF to build a 4,400SF state-of-the-art branch with a drive through and customer lobby. Cole Investment Group purchased 37KSF to develop more than 8KSF of multi-tenant retail and restaurant space. Both are expected to open in mid-summer.
“We are excited to add these on-site, walkable amenities at our office building,” said Chris Anderson, managing director and city leader for Hines. “We expect Arizona State Credit Union’s branch, the restaurants, and retail shops to appeal to future tenants and the highly desirable submarket’s businesses and residents who want convenient nearby options.”
The Scottsdale Road and Kierland area has more than 700KSF of Class A office space.
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