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4/12/19
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A fully leased, 32.7k sf multi-tenant office building in Phoenix has sold for $5.225 mil, or $160/sf. The property is located at 2730 W Agua Fria Fwy, in the rapidly growing Deer Valley/I-17 submarket.
The sellers, Pathfinder Partners L.P. and Global Building LLC, were represented in the transaction by Kidder Mathews commercial real estate brokers, Darren Tappen and Peter Beauchamp. The buyer, Devil Digs Properties LLC, was repped by Michelle Gardner, also with Kidder Mathews. Kidder Mathews senior property manager, Dawn Riegle, and the property management team assisted with the due diligence process and have been retained as the new property managers.
“The asset presented many strengths to the buyer including highway visibility, interior build-out appeal, and a healthy stabilized cap rate return,” said Gardner.
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