Transaction Highlights Owner-Buyer Trend

PHOENIX-In recent weeks, Valley Schools Trust paid $3.5 million to acquire the 36,724-square-foot Blackhawk Corporate Center II through Auction.com. The buyer plans to use the building, acquired from LNR Partners LLC, both for its own use and for cash flow purposes.

According to Cassidy Turley executive vice president Eric Wichterman, the building was specifically marketed to owner-users until it went to auction. Valley Schools Trust plans to occupy approximately 25% of the facility at 3050 W. Agua Fwy., with the remainder to be leased out. Wichterman teamed with Cassidy Turley colleagues Mike Coover (executive vice president); Mart Stratz (vice president); Tyler Wilson (vice president and Scott Baumgarten (associate vice president) in representing LNR. Mike Sayre with Cushman & Wakefield represented the buyer.