Orsett Properties, with offices in Wellesley, MA and Phoenix, took the deal for 7955 E. Redfield Rd. to the closing table after a contract that was in place for three months fell out, Tom Jacobs with Grubb & Ellis/BRE Commercial in Phoenix tells GlobeSt.com. Built in the early 1980s, the one-time three-tenant building has been empty about nine months. The new plan is for the buyer's broker, Tom Boyle with Phoenix-based Lee & Associates Arizona, to once again multi-tenant the asset, positioned on 7.6 acres at the airpark's southernmost boundary.
Jacobs and Mike Haenel, also with Grubb & Ellis/BRE Commercial, negotiated the transaction for the 17-year owner, the Monaghan Co. of Phoenix. The building, sold free and clear of debt, is the largest contiguous vacancy block in the airpark, Jacobs says.
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