"This is true value-added play," says Todd Noel, a senior associate in Phoenix for Trammell Crow Co. "It's a good deal for RDB Construction." The local buyer has picked up a park developed in 1979 at 4225 W. Glendale Ave. and extensively renovated last year. "We had a ton of interest in Adobe Pointe Office Park because there are very few value-added opportunities with such value in the lease-up," Noel tells GlobeSt.com. "We went with them because they had the ability to close. They were a sure bet."
According to Noel, there is a lack of available inventory in close proximity to Adobe Pointe Office Park. "I think they'll be successful in leasing the property," he says. The space is quoted at $14.50 per sf, triple net. Major tenants include Time Savers Management and Allstate Corp.
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