"There aren't a lot of properties on the market like this, that are 100% occupied with multi-tenants, and stabilized to this extent," says Sean Stutzman of Sperry Van Ness' Phoenix office about the 2204 S. Dobson Rd. development. "It's rare to see that type of stability in that type of office property." There are no leases expiring this year, according to Stutzman, who with Sperry Van Ness colleagues Ari Spiro, Jeff Chalfin and Mike Day, represented the seller, Amundson Enterprises Inc.
Stutzman explained the property had been through one escrow. "Then we brought it back, had a number of offers, and this time the buyer stuck through closing," he says. The buyer was represented by Pooya Dayanim, an attorney from Southern California.
Stutzman tells GlobeSt.com that the sellers, who had owned the building since it was developed in 1985, are ready to retire from real estate. "They had pondered selling for a year and a half and decided the market was right," Stutzman adds.
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