A 179,360 square-foot Class A office building in Scottsdale recently sold for $70.7 million.
The Phoenix Business Journal reports that the property, called Axis Raintree, was traded from Trammell Crow Company to an entity of D.R. Horton. Trammell Crow Company partnered with PGIM Real Estate to develop and deliver the three-story building in 2022. Amenities include a Press Coffee location, a 5,000 square-foot outdoor space and a training room. It sits on 5.12 acres and is located at 8605 E. Raintree Drive.
Axis Raintree’s largest tenant is Pulte Homes, which signed on to lease 50,000 square feet in May of last year.
The PBJ reports Axis Raintree sale is one of the largest office transactions so far this year.
The largest was when FalconEye Ventures paid $645.1 million for Scottsdale Quarter in June.
In the Axis Raintree deal, Jenny Knowlton at CBRE represented the seller. Brad Anderson and Mike Strittmatter at Cushman and Wakefield represented the buyer.
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