ARIZONA NEWS

Phoenix office space sold to New York developer for $43 million

Aug 30, 2022, 4:15 AM
(Photo courtesy of lpcdesertwest.com)
(Photo courtesy of lpcdesertwest.com)

PHOENIX — Paradise Village Office Park, a Class-A office building in Phoenix, has been sold to a New York developer for $43 million.

The five-story, 268,516-square foot office space was purchased by Time Equities, Inc., a full service real estate firm, according to a press release.

TEI acquired the building located at 11811 N. Tatum Blvd., near the Paradise Valley Mall area, from Sterling Equities and Lincoln Property Company, their first office property in Arizona.

“We are particularly excited about the acquisition of Paradise Village Office Park for multiple reasons, not least of which being Time Equities’ expansion into the Phoenix office market,” TEI director of acquisitions Aaron Medeiros said.

TEI plans for a “large-scale” redesign of the office’s common areas, as well as new design concepts and amenities, the release said.

Part of that will feature the space’s lobby atrium, which is among the largest in the Phoenix area. TEI will use its Art-in-Buildings program, which will fill the space with works of art from artists around the world.

Current amenities at Paradise Village Office Park include a tenant lounge, conference center and training room, on-site cafe and deli, as well as a covered parking garage that features 945 spaces.

TEI was founded in 1966 and currently holds 38.7 million square feet of residential, industrial, office and retail property.

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(Pixabay Photo)...
KTAR.com

Police investigating officer-involved shooting in Phoenix

Phoenix police are investigating an officer-involved shooting after an incident happened Saturday evening, authorities said.
10 hours ago
(Pixabay Photo)...
KTAR.com

Tucson man accused of lying about weapon used in mass shooting

A Tucson man was charged last week for making a false statement to agents during an investigation into a mass shooting, authorities said.
10 hours ago
(Pixabay Photo)...
KTAR.com

Glendale Community College teams with police on law enforcement training academy

PHOENIX — Glendale Community College and nine West Valley police departments announced Thursday they’ve partnered to launch a fulltime law enforcement training academy. The first class consisting of 30 recruits will begin Monday at the Glendale Regional Public Safety Training Center located on Glendale Avenue and El Mirage Road, Glendale Community College said in a […]
10 hours ago
Arizona Secretary of State Latie Hobbs, left, the Democratic nominee for governor, and Kris Mayes, ...
Associated Press

GOP quiet as Arizona Democrats condemn abortion ruling

PHOENIX (AP) — Arizona Democrats vowed Saturday to fight for women’s rights after a court reinstated a law first enacted during the Civil War that bans abortion in nearly all circumstances, looking to capitalize on an issue they hope will have a major impact on the midterm elections. Republican candidates were silent a day after […]
1 day ago
(Pexels Photo)...
KTAR.com

Gilbert Oktoberfest set for Oct. 15 at Gilbert Regional Park

An oompah band will welcome visitors to Gilbert Regional Park for this year's Gilbert Oktoberfest on Saturday, Oct. 15.
1 day ago
Pamphlets are seen on the counter at the Planned Parenthood Central Phoenix Health Center in Phoeni...
KTAR.com

Planned Parenthood launches $1.5M electoral campaign in Arizona

Planned Parenthood Votes launched a $1.5 million statewide electoral program in Arizona for the upcoming midterms.
1 day ago

Sponsored Articles

...
Day & Night Air Conditioning, Heating and Plumbing

Here are 4 signs the HVAC unit needs to be replaced

Pool renovations and kitchen upgrades may seem enticing, but at the forefront of these investments arguably should be what residents use the most. In a state where summertime is sweltering, access to a functioning HVAC unit can be critical.
...
Mayo Clinic Orthopedics and Sports Medicine

Why your student-athlete’s physical should be conducted by a sports medicine specialist

Dr. Anastasi from Mayo Clinic Orthopedics and Sports Medicine in Tempe answers some of the most common questions.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Vaccines are safe if you are pregnant or breastfeeding

Are you pregnant? Do you have a friend or loved one who’s expecting?
Phoenix office space sold to New York developer for $43 million