Mission Capital Advisors announced that its Asset Sales Group has been retained as the exclusive financial advisor for the sale of 13450 North Black Canyon Highway, a 352,000-square-foot office building in Phoenix, Arizona.
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FOR IMMEDIATE RELEASE
Mission Capital Advisors Retained as Financial Advisor for Sale of
Phoenix Office Building
Leading New York City Capital Markets Solutions Firm Working Collaboratively with
Cashen Realty Advisors
PHOENIX, Ariz. (March 3, 2015)— Mission Capital Advisors, a leading national real estate capital markets solutions firm, today announced that its Asset Sales Group has been retained as the exclusive financial advisor for the sale of 13450 North Black Canyon Highway, a 352,000- square-foot office building in Phoenix, Arizona.
On this assignment, Mission Capital Vice President Howard Freedman will collaborate with Ray Cashen of Cashen Realty Advisors (acting as broker), with the two firms jointly soliciting bids for the property. Mission will be providing potential buyers with an array of due diligence data,
which the firm developed to demonstrate the property’s significant value.
“Ideally located in the Deer Valley submarket of Phoenix, 13450 North Black Canyon Highway presents an attractive asset to investors looking for a value-add opportunity,” said Freedman.
“The Phoenix office market has experienced six consecutive quarters of declining vacancy, which has led to the lowest vacancy level since the recession. In 2014, the Phoenix office market experienced its strongest occupancy growth since the last market peak and the declining vacancy has spurred steady increases in asking rents across all buildings classes. With the Phoenix market continuing its growth, we are sure to see significant interest from opportunistic investors.”
In addition to the recently renovated, two-story office building, the property contains a large,
1,400-car parking lot. Current tenants include a division of the State of Arizona and several established corporations.
About Mission Capital Advisors
Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York City, Florida, Texas, California and Mobile, Alabama. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across commercial and residential loan sales; debt, mezzanine and JV equity placement; and loan portfolio valuation. Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $45 billion of loan sale and financing transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information, visit www.missioncap.com.