Milwaukee real estate developer Irgens has purchased a $6.6 million office building and land for future development in Scottsdale, Ariz.
The sale includes a 42,700-square-foot Class A office building and 6.54 acres of land. Irgens plans to reposition an existing parking area to create space to develop an additional office building approximately the same size as the existing structure.
Irgens purchased the property from Waitt Perimeter Office LLC.
“This opportunity appealed to us because of its prime location in the North Scottsdale submarket and the value add benefits that can be realized in the lease-up of the current building,” Jason Meszaros, vice president/market manager for Irgens said in a statement.
Irgens continues to actively seek strategic acquisition and development opportunities to add to its growing portfolio of commercial and medical offices in the greater Phoenix metropolitan market.
Irgens has offices in Milwaukee, Chicago and Phoenix.