Scottsdale MOB Trades for $11 Million

Newmark has arranged the sale of 90 Mountain View I, a three-story, 91,082 square-foot, Class A office and medical office project located at 9977 North 90th Street in Scottsdale. The asset sold for $11 million. 

Newmark Executive Managing Directors Barry Gabel, Chris Marchildon and CJ Osbrink represented the seller, Regent Properties. 

Gabel said, “We continue to see robust demand for well-located, high-quality office and medical office properties.” 

Located in the “Scottsdale Cure Corridor,” 90 Mountain View I is within walking distance of the 427-bed HonorHealth Scottsdale Shea Medical Center. At the time of sale, the property was 86% leased. 

Built in 2000 and situated on a 3.32-acre site, the property offers abundant parking, with 4.33 spaces per 1,000 square feet in subterranean, surface and adjacent parking structures.

Regent says it’s a vertically integrated investment manager of premier Sunbelt communities.