Shidler Group makes Phoenix purchase

Black Canyon deal offers future development potential

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

The Shidler Group of San Diego has purchased Black Canyon Corporate Center in Phoenix, Ariz., for approximately $24.3 million. The 226,700-square-foot office building at 16404 N. Black Canyon Highway is located on 19 acres of land, and was sold by Black Canyon Corporate Center LLC. Built in 1980 and renovated in 2006, the property was 62 percent occupied at the time of sale by tenants that included Paychex and the High Tech Institute. "The Shidler Group has become much more active in the Phoenix and Tempe markets in the last couple of years and we now consider this region to be one of our core markets for future investment," said Matt Root, a partner in The Shidler Group. Root said the site also offers the "ability to develop an additional 150,000 square feet." ...