59K-SF Scottsdale MOB Purchased by Albany Road

Albany Road Real Estate Partners acquired Paradiso, a 59,400 square foot medical office property for $13.3 million. Mark IV Capital Properties was the seller. The property, located at 11000 N. Scottsdale Road features a large central courtyard with decorative fountains and seating areas, private entrances and balconies, covered breezeways, patios off several ground floor suites and full-length storefront windows.

In its marketing materials, Cushman & Wakefield notes that the property is 86% leased to a high-quality roster of medical tenants with an ideal average suite size of 2,100 square feet.

Eric Wichterman, Alexandra Loye, Chris Toci and Mike Coover of Cushman & Wakefield represented Mark IV in the transaction.

Paradiso is situated near the intersection of Shea Boulevard and Scottsdale Road, one of the Valley’s most prominent intersections, known for its concentration of high-quality retail, dining, and entertainment amenities.

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