commercial real estate Posted

Commercial real estate is piping hot in Deer Valley, according to some local real estate experts.

The latest — a two-building office park in Deer Valley sold for $22.5 million, CBRE announced. The office park is near Seventh Avenue and Loop 101.

The single-story buildings “occupy 7.22 acres and were constructed in 2001," according to a press release.

“Deer Valley remains one of Phoenix’s most resilient submarkets,” said Geoffrey Turbow, senior vice president at CBRE, in the release. “The buyer saw long-term value in the strong tenancy, strategic location, and upside potential of 950 and 960 West Behrend Drive.”

Demand in the area took off for the “micromarket” that is Deer Valley after Taiwan Semiconductor Co. decided to locate to north Phoenix in 2021,

See Full Page