Original Article from the Business Real Estate Weekly of Arizona.
Phoenix – W-EH Crossroads Holdings JV VII LLC, formed by Walton Street Capital LLC in Chicago, Ill. (Perry Pinto, et al., principals) and Everest Holdings in Scottsdale (Joe Blackbourn, principal), paid $7.18 million ($68.31 per foot) to buy a 105,107-square-foot back-office building located north of Bell Road and west of Interstate 17 at 17401 N. Holmes Boulevard in Phoenix. The seller was Kossman-Phoenix Limited Partnership, formed by Kossman Development Co. in Pittsburgh, Pa. (Curtis Kossman, pres.). The cash sale was brokered by Barry Gabel, Chris Marchildon, Ashley Brooks, Jim Bayless and Jenny Aust of CBRE in Phoenix.
The 7.28-acre property, which was occupied by Sam’s Club until 2007, is available for lease. The project, now being called Crossroads Corporate Center, is parked at 8 spaces per 1,000 sq. ft. Brooks, Bayless and Aust have the leasing assignment. The project, which was developed in 1987 and renovated 2009, can accommodate a single tenant or multiple tenants.
Over the years, BREW has reported Walton and Everest teaming up on numerous Valley real estate investments. The companies are looking for more properties in the Phoenix area.