The class C, 25,736-sf office property also is located near the Town & Country shopping center and Phoenix Indian Hospital. Eric Wichterman and Stan Shafer, both with the Phoenix office of Grubb & Ellis' investment advisory group, represented buyer and seller, Phoenix-based Presson Corp.
Wichterman tells GlobeSt.com that Presson owns more than three million sf in metro Phoenix. He says they are moving into larger product, which could be the precipitating reason for the Wellington Court sale.
Wichterman says the buyer acquired the 100%-occupied building strictly as an income property. Built in 1980, it is home to a tenant roster of primarily government-related agencies, according to Wichterman.
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