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, Arizona.
George Oliver is known for redevelopments of projects including:
- Arbor in downtown Tempe
- CASA in Phoenix’s Uptown neighborhood
- The Alexander and The Johnathan in downtown Chandler
- Bond, currently under construction in the Camelback Corridor
Together, 4141 Scottsdale and 4167 Scottsdale occupy nearly four acres at the northeast corner of Scottsdale Road and Indian School Road.
The property includes:
- Three stories of office space
- A two-story retail building
- Two levels of subterranean parking
The location sits within Old Town Scottsdale, surrounded by numerous:
- Dining and retail destinations
- Residential communities
- Hotels and nightlife venues
- Art galleries
“We continue to see strong tenant demand for thoughtfully designed office space in amenity-rich locations,” said Curt Kremer, Founder and Managing Partner of George Oliver. “The location of 4141 and 4167 Scottsdale at the center of Old Town Scottsdale provides arguably the best canvas for our next repositioning. We are excited about this new partnership with the Ascentris team and are already underway on the design for this opportunity.”
George Oliver is recognized for modern aesthetic design and placemaking, tailoring each redevelopment to the unique needs of the property and surrounding submarket.
Their projects often include expansive amenity packages focused on improving the tenant experience, such as:
- Flexible conference spaces for large meetings and teleconferencing
- Podcast and recording spaces
- Concierge services
- State-of-the-art fitness centers and yoga studios
- Luxury locker rooms
- Dining and bar areas
- Mother’s rooms
- Libraries and recreation spaces
- Game areas and dog patios
- On-site EV charging stations
“Ascentris partners with local operators to develop and own attractive real estate in exceptional locations within growth markets,” said Jeff Higgins, Senior Vice President at Ascentris. “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.”
Ben Geelan, Senior Managing Director, and Will Mast, Senior Director at JLL, represented the seller in the transaction.
Design and architecture for the project are being led by George Oliver Design, with redevelopment concepts currently underway and renovations anticipated to begin in 2025.
About George Oliver
George Oliver LLC is a commercial real estate company specializing in innovative office and industrial workspace environments.
The firm focuses on creating spaces that enhance productivity, improve employee retention, and help businesses remain competitive in evolving workplace environments.
George Oliver developments emphasize design, amenities, and tenant experience, with projects located in Phoenix, Chandler, Scottsdale, Austin, and Denver.
More information is available at 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 major property types and geographic regions throughout the United States.
Since 2003, the firm’s management team has followed an investment philosophy designed to provide investors access to opportunities ahead of the market while delivering a high level of service, transparency, and accountability.
Ascentris is a privately held and management-owned SEC-registered investment adviser committed to putting investors’ needs first. Additional information is available at Ascentris.com.
Note: Being a registered investment adviser with the SEC does not imply any specific level of skill or training.
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