PHOENIX—In this week's Deal-Tracker, CassidyTurley announces the $7.4 million sale of WestwoodBusiness Park, a Class B office development at 2222-2228 WestNorthern Avenue in the Northwest Phoenix Submarket.California-based LBK Trust III purchased theproperty from Nebraska-based MJA Holdings, LLC.Cassidy Turley executive managing director EricWichterman and senior vice president MikeCoover negotiated the transaction on behalf of the seller,while Edward Nelson of Marcus &Millichap represented the buyer. Built in 1981, WestwoodBusiness Park is a 91,491 square foot office complex consisting offour two-story buildings on 5.4 acres. The property is located inthe heart of North Central Phoenix west of19th Avenue and Northern Avenue. The business parkwas 82% leased at the time of sale.

-PHOENIX–Cassidy Turley has completed a 10-year lease of 12,034square feet for locally-based Arizona Urology Specialists PLLC atCountry Club Manor, 1221-1313 E. Osborn Rd. in Phoenix. Senior vicepresident Gordon Raguse and vice presidentChris Jantz of Cassidy Turley's office grouprepresented landlord Hyperion Fund LP, while David Heiple of HeipleTravers Realty represented the tenant. Arizona Urology Specialistsis the largest provider of urologic services in Arizona. The newlease is part of a relocation and expansion for Arizona UrologySpecialists. Built in 1987, Country Club Manor is a classic, twobuilding two-story 89,214-square-foot, Class B office project on4.58 acres. The property is centrally located in the MidtownSubmarket at Osborn Road and 16th Street. Thegarden style office building is 81% leased with 16,927 square feetavailable and suites ranging from 1,144 square feet to 5,100 squarefeet.


-PHOENIX—TrentonMcCullough and Shari A. Tucker-Gasser,retail investment advisors in the Phoenix Sperry VanNess office, represented the buyer, SossamanDevelopment LLC, in the $2,200,000 purchase of 4.95 acresof commercial land zoned LC, formerly known as C-2, in the City ofMesa. Located just north of Costco on the hard corner of SossamanRoad and Hampton Avenue in Mesa, Sossaman Development LLC hasplans to develop and sell or lease pads for a multi-tenant retailbuilding and two freestanding single tenant retail buildings alongSossaman Road. The seller, Buttercup Investments IV,LLC was represented by Paul Serafin andChris Corso of De RitoPartners.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.