A joint venture between Birtcher Anderson Realty LLC and Pacific Coast Capital Partners recently purchased the Deer Valley Office Park in Phoenix, Ariz., for $36.6 million.
The class A property totals 175,225 square feet and is located at 20410 and 20430 North 19th Ave. Built in 2001, the two-building, two-story complex is situated on more than 10 acres.
Birtcher Anderson, based in San Juan Capistrano, Calif., and Pacific Coast, based in El Segundo, Calif., purchased the property from ICP, a Phoenix-based pension advisor.
At the time of sale, the property was 97 percent occupied by 10 tenants, including PSCU Financial Services, Universal Technical Institute TATA and H&R Block.
With this acquisition, Birtcher Anderson Realty’s Phoenix-area portfolio totals in excess of 1.4 million square feet, and the firm seeks to invest an additional $100 million in the region over the next 12 months. Some of the firm’s Phoenix properties include: The AIG headquarters, the TriWest headquarters and a T-Mobile regional office in Tempe.