SCOTTSDALE, AZ — A $42.25 million Old Town Scottsdale building sale is ground zero for the next massive office redevelopment project from Phoenix-based developer George Oliver Cos.
The 165,220-square-foot building at 7272 E. Indian School Road was sold on Dec. 17 to 7272 Indian School Owner LLC, an entity tied to Denver-based private equity firm Ascentris, according to Tempe-based real estate database Vizzda LLC.
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A joint venture between Ascentris and George Oliver has spent more than $76 million over the past few months to acquire six contiguous acres in Old Town Scottsdale.
7272 Indian School Owner bought the site from Scottsdale Financial Center Owner LLC, an entity connected to financial services firm Goldman Sachs that purchased the property for $40 million in August 2016, Maricopa County records show.
