Blue Vista JV Snags Phoenix Office Campus

The joint venture between Everest Holdings and Blue Vista Capital Management acquired the two-building asset completed in 2001 for $23.6 million.

Building B of Deer Valley Office Park in Phoenix
Building B of Deer Valley Office Park in Phoenix

Everest Holdings teamed up with Blue Vista Capital Management to acquire Deer Valley Office Park, a two-building office campus in Phoenix. Granite Deer Valley Holdings sold the asset for $23.6 million.

Deer Valley Office Park, located at 20410 and 20430 N. 19th Ave., is a 175,225-square-foot Class A office complex completed in 2001. The two-story buildings feature more than 850 parking spaces. Tenants include OneGuard, AllianceMed and Ebix Health Exchange. The asset is situated 1.5 miles from Interstate 17 and Arizona State Route 101, offering convenient access to multiple hotels and restaurants.

Barry Gabel and Chris Marchildon with CBRE’s Phoenix office negotiated the deal on behalf of the seller. The new owner selected CBRE’s Ashley Brooks and Jim Bayless to handle leasing duties at the property.

Last year, a joint venture between Blue Vista Capital and ViaWest Group sold Nexus @ ASU Research Park, a 123,000-square-foot Phoenix-area office building.

Image courtesy of Yardi Matrix