Quesnell Property Management of Edmonton, Alberta won the face-off for the 9132 W. Cactus Rd. building in Peoria with a high bid that was just $200,000 below Prescott-based seller, TDH Investments' $3.1-million asking price. "The location adjacent to the (Loop) 101 on-ramp made it a very accessible and very sought after property," Michael Hackett with Marcus & Millichap's Phoenix office tells GlobeSt.com of the bidding frenzy over the 91st and Cactus Center.
The class C property, set on about 6.5 acres at 91st Avenue and Cactus Street adjacent to the Loop 101 Freeway, is comprised of a mix of office, retail and industrial uses that is fully leased to about 35 small business tenants. Hackett represented the seller in the transaction while TJ Karry, also with Marcus and Millichap, represented the buyer.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.