Phoenix-based developer George Oliver, in partnership with Ascentris, has announced the $42.25 million acquisition of 7272 E. Indian School Rd., a 165,220-square-foot office building in Old Town Scottsdale, Arizona.
The purchase, which follows the partnership’s mid-2024 acquisition of 4141 and 4167 N. Scottsdale Rd., expands the companies’ Old Town Scottsdale footprint to over 350,000 square feet. The properties will be redeveloped into a new trademark George Oliver experiential office campus.
The Old Town assemblage occupies approximately six acres at the prominent 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.
“Delivering a best-in-class office project in Old Town Scottsdale has been a bucket list item for George Oliver since our inception,” said George Oliver Founder and Managing Partner Curt Kremer. “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.”
“Ascentris is excited about the acquisition of the 7272 asset, 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 transformative repositioning of these assets will create a truly unique offering in Old Town Scottsdale.”
The Old Town buildings are surrounded by premier restaurants, luxury and boutique retailers, nightlife venues and a robust art scene, alongside hospitality and residential developments. The area offers convenient access through nearby thoroughfares and is situated near a large and diverse workforce, making it an ideal location for businesses seeking vibrant surroundings and a dynamic community.
Based in Arizona, George Oliver is known for its modern aesthetic design and placemaking catering to the unique needs of a project’s submarket. In Old Town, George Oliver will cater to a vibrant workforce with award-winning, hospitality-centric amenities such as extensive conference spaces, individual teleconferencing and podcasting areas, 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.
JLL’s Ben Geelan, Will Mast, Jack Miller and Gigi Martin represented the building seller. The design and architecture for the new Old Town Scottsdale assemblage is being led by George Oliver Design.
