A fully leased multi-tenant office building located at 2730 W Agua Fria Freeway in Phoenix, Arizona, has sold for $5,225,000. 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 represented by Michelle Gardner also with Kidder Mathews.
The ±32,741 square foot asset is located in the rapidly growing Deer Valley/I-17 submarket in Phoenix.
“The asset presented many strengths to the buyer including highway visibility, interior build-out appeal, and a healthy stabilized cap rate return,” said Gardner.
Kidder Mathews senior property manager, Dawn Riegle, and the property management team were hired by the buyer to assist with the due diligence process and have been retained as the new property managers.
“Leveraging relationships among Kidder Mathews brokerage and property management was key in this transaction to meet the buyer’s timeline, product and class type, and return on investment requirements,” said Gardner.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 750 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $9 billion in transactions, manages over 51 million square feet of space, and conducts over 1,600 appraisals annually. For more information, visit kidder.com.