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6/28/11
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Houston-based Boxer Properties has purchased Lakeside Center, a 152.6k sf multi-tenant office park in Phoenix, for $5.44 mil ($36/sf). The property, which was roughly 50% leased at the time of the sale, is located at 11221-11225 N. 28th Dr, south of Cactus Rd and just west of I-17.
The seller was Phoenix-based Trident Pacific Real Estate Group, as court-appointed receiver on behalf of Midland Loan Services. Built in 1982, the property is situated on 8.5 acres and features a park-like setting with a lake that surrounds it on three sides.
Eric Wichterman, Mike Coover, Bob Buckley, Tracy Cartledge, Steve Lindley, Gordon Raguse and Tom Jacobs with Cassidy Turley BRE Commercial executed the sale transaction on behalf of both the buyer and the seller. Raguse and Jacobs had the leasing assignment for Lakeside Center prior to the sale.
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