Cushman & Wakefield Arranges $8.5M Sale of Office for Conversion to Assisted Living

by Nellie Day

PHOENIX — Cushman & Wakefield has arranged the sale of the former Giant Industries corporate headquarters office building in Phoenix for $8.5 million.

United Insurance Co. of America sold the asset to Generations at Pinnacle Peak LLC, a Michigan-based investor that plans to convert the office property into an assisted living community.

The two-story building was constructed in 1989 and contains approximately 66,283 square feet of space. The structure is situated on four acres of land.

Larry Downey, vice chairman for Cushman & Wakefield, represented the seller in the transaction.

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