PHOENIX—Dunbar Real Estate Investment Management has acquired Cabot Business Center located at 3802-3922 East University Drive. The Flex/R&D project consists of five separate buildings in the highly desirable Sky Harbor Airport submarket of Phoenix.
Dunbar responded quickly to the opportunity to purchase the 109,684 square foot project in an off-market transaction, which includes tenants such as Thyssenkrupp, Carrier and many other high-quality companies. Dunbar plans to invest capital to improve the overall condition of the property as well as constructing spec suites, making the project even more appealing to the market.
Dunbar says Darren Tappen, Aric Adams and Mike Kasulaitis of Voit handled the transaction.
The transaction marks Dunbar's eighteenth acquisition over its first 36 months of operations of which nine have been completed on an all-cash basis. Dunbar is aggressively seeking value-added investment opportunities in Southern California and Phoenix.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
