Corrigan Group Two LLC outbid several other investors to take over ownership of the Trekell Corporate Center in a deal that gave the new owners a 94%-leased office property with a strong tenant base, Marcus & Millichap's Steve Gonzalez tells GlobeSt.com. "It's the premier office property in Casa Grande," Gonzalez said of the single-story building, located at 1729 North Trekell Rd.
Gonzalez said the Corrigan Group, a first-time office market buyer, sold off one of its RV properties to finance the 1031 Exchange. Built in 2000 by McDowell Real Estate, the property features covered parking for tenants such as Realty Executives, First American Title and Next Care, all of which have leases ranging from three- to five-year terms.
Gonzalez, along with Jamie Medress of Marcus & Millichap in Phoenix, represented seller, Trekell Professional Offices LLC of Scottsdale, in the transaction. The buyer was represented by Doug Danny of Marcus & Millichap in San Diego.
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