George Oliver and Ascentris Add to Old Town Scottsdale Office Footprint
Denver, Colorado (January 5, 2024) – Phoenix-based developer George Oliver and joint venture partner Ascentris today announced the acquisition of 7272 E. Indian School Rd., a 165,220-square-foot office building in Old Town Scottsdale, Arizona. The purchase follows the partnership’s mid-2024 acquisition of 4141 and 4167 N. Scottsdale Rd., creating a more than 345,000-square-foot Old Town footprint that will be developed into a new experiential office campus.
The new assemblage occupies more than five acres at the corner of Scottsdale and Indian School Roads. Design concepts for the campus are underway, with renovations slated to begin in 2025.
Final spaces will align with similar George Oliver projects such as Arbor in downtown Tempe, CASA in Phoenix’s Uptown neighborhood, The Alexander and The Johnathan in downtown Chandler, and Bond, which is nearing completion in the Camelback Corridor.
“Ascentris is excited about the acquisition of 7272, which represents an accretive and complimentary addition to this partnership’s recent acquisition of 4141 and 4167 Scottsdale,” said Ascentris Managing Director Jeff Higgins. “The purchase of 7272 E. Indian School allows us to execute that goal with a more robust amenity offering inside a campus-style experiential office portfolio,” said George Oliver Founder and Managing Partner Curt Kremer.
The Old Town buildings are surrounded by restaurants, boutique retailers, nightlife venues and a robust art scene, as well as hospitality and residential development. Together they boast surface and subterranean parking, easy access via nearby thoroughfares and a mix of dynamic corporate neighbors.
JLL’s Senior Managing Director Ben Geelan and Senior Director Will Mast represented the building seller. The design and architecture for the new Old Town Scottsdale assemblage is being led by George Oliver Design.
About George Oliver
George Oliver LLC is a locally based commercial real estate company that operates on the cutting edge of office and industrial workspace environments. George Oliver believes your workspace should enhance productivity, improve employee retention, and help your business better compete in an increasingly volatile marketplace. Healthy, happy and productive workspaces are giving businesses the upper hand, and unrivaled design, amenities and tenant experiences are front-and-center in every one of our buildings. Experience the difference yourself at any of our award-winning buildings in Phoenix, Chandler, Scottsdale, Austin, and Denver. To learn more or to discuss new project opportunities, visit www.georgeoliver.com.
About Ascentris
Ascentris is a real estate private equity firm based in Denver, Colorado that manages a series of fully discretionary institutional vehicles targeting both value-add and core investments across the major property types and geographic regions within the United States. Since 2003, Ascentris’ management team has relied on an investment philosophy and organizational structure for the purposes of getting its investors to opportunities ahead of the market and providing an unmatched level of service, transparency, and accountability. Ascentris is a privately held and management-owned SEC-registered investment adviser that maintains an unwavering commitment to put its investors’ needs first. Additional information is available at Ascentris.com.[1]
[1] Being a registered Investment Advisor with the SEC does not imply any level of skill or training.