X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-The Bureau of Land Management has a new building owner in a $3.2-million sale between Deer Valley Builders of Castle Rock, CO and Phoenix-based real estate investor, William Sheely.

Sheely’s new acquisition is a build-to-suit office building at 21605 N. 7th Ave. in Phoenix and is solely leased to the bureau in a 15-year lease that began in April. The structure is the bureau’s headquarters. Sheely acquired the property through a 1031 exchange.

The office building, built by Deer Valley Builders, is just south of the Deer Valley Airport and about a half mile north of the recently opened Pima Freeway section of Loop 101. The area has become increasingly popular with office and industrial tenants since the freeway opened and residential construction is under way to the north and west.

Steve Fernandez and Jenifer Davis, both of the private client investment group for CB Richard Ellis’ Phoenix office, represented the seller. Tom Mulhern and Brad Kiernes, both of Investors Properties in Phoenix, acted for the buyer.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.