Ascentris and George Oliver Purchase Two Old Town Scottsdale Buildings
Denver, Colorado (June 20, 2024) – Ascentris and Phoenix-based developer, George Oliver, announced the acquisition of 4141 Scottsdale, a 162,227 square-foot office building and 4167 Scottsdale, a 15,000 square-foot retail building located in the heart of Old Town Scottsdale. George Oliver is known for its renovations of 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 now under construction within the Camelback Corridor.
Together, 4141 and 4167 Scottsdale occupy nearly 4 acres at the northeast corner of Scottsdale and Indian School roads. The buildings include three stories of office space, a two-story retail building and two levels of subterranean parking. The location is surrounded by numerous dining, shopping and residential options, hotels and nightlife venues, and art galleries.
“We continue to see strong tenant demand for thoughtfully designed office space in amenity-rich locations,” said George Oliver Founder and Managing Partner Curt Kremer. “The location of 4141 and 4167 at the center of Old Town Scottsdale delivers us arguably the best canvas for our next reposition. We are excited about this new partnership with the Ascentris team and are well underway on the design for this great opportunity.”
Sought out for its modern aesthetic design and placemaking that caters to the unique needs of each property and submarket, George Oliver redevelopments offer some of the Valley’s most expansive amenity packages. This includes a dedicated effort to creating flexible and tailored conference spaces capable of supporting large groups, individual teleconferencing and podcasting. Further, amenities intended to improve the tenant experience may include popular hospitality-centric features such as on-site concierge services, state-of-the-art fitness centers, yoga facilities, luxury locker rooms, dining and bar areas, mother’s rooms, libraries, recreation spaces, game areas, dog patios and on-site EV chargers.
“Ascentris partners with local operators to develop and own attractive real estate in exceptional locations within growth markets. We believe George Oliver’s design, redevelopment and operational expertise, combined with this location at the epicenter of Old Town Scottsdale, is a recipe for success and that, once complete, will be one of the preeminent properties in all of Phoenix,” said Ascentris Senior Vice President Jeff Higgins.
JLL’s Senior Managing Director Ben Geelan and Senior Director Will Mast represented the building seller. The design and architecture for both buildings is being led by George Oliver Design, with concepts underway now and renovations anticipated to begin in 2025.
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[1] investment adviser that maintains an unwavering commitment to put its investors’ needs first. Additional information is available at Ascentris.com.
[1] Being a registered Investment Advisor with the SEC does not imply any level of skill or training.