Eric Wichterman and Stan Shafer, both of the Phoenix investment advisory group for Grubb & Ellis Co., represented the buyer. The buyer of record is Crisjolyn Exchange Qualified Intermediary. Wichterman tells GlobeSt.com that the buyer's names is actually that of the title company holding the property while the exchange is made. The 30,205-sf fully occupied office property was listed at nearly $4.3 million.
Wichterman says the acquisition was particularly appealing because it comes with two tenants and long-term leases. Northern Business Center LLC, an entity of Core Jackson, is the seller, represented by its in-house broker Randy Todd. Wichterman says Core Jackson built the structure in 2000 with the intent of selling it once it was stabilized.
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