The Presson Corp., headed by Daryl Burton, purchased the ButtesBusiness Center, a 13-building complex of offices and warehousespace. The buildings range in size from 8,300 sf to more than26,500 sf.
The seller had owed the popular complex, which is 95% occupied,for just four years. Des Moines-based Principal Life Insurance Co.purchased the Buttes Business Center in 1997 for $7.95 million.
Poised on the border of Phoenix and Tempe, the business park isideally located in the center of the expanding Valley. Interstate10 runs just a half-mile to the west, Superstition Freeway is justtwo miles to the south and Sky Harbor International Airport is fiveminutes away.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
