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August 24, 2019
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TEXAS/SOUTHWEST NEWS
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BH Properties Buys Phoenix Industrial Asset

6/19/19

BH Properties acquired Riverpoint Building 2, a 61.3k sf, multi-tenant flex office building in Phoenix, for $5 mil ($81.50/sf). The single-story building is located at 3100 E. Broadway.

Built in 2002, the recently vacated building is situated on the northwest corner of 32nd St and Broadway Rd, just south of Phoenix Sky Harbor International Airport. The property features Broadway Road signage, close proximity to ASU and the airport and easy access to the I-10.

Eric Wichterman, Mike Coover, Larry Downey and Brett Thompson of Cushman & Wakefield represented the buyer and the seller, a Nebraska investor, Vatnsdal Investments LLC. According to Wichterman, BH Properties will be able to add tremendous value through leasing the property to a single tenant on a long term lease.

Downey and Thompson will also serve as the exclusive marketing agents for Riverpoint Building 2. They point out that the property offers 60k sf of vacant contiguous space and an abundance of parking space for future tenants.




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