Jerry Jacobs of the Phoenix office of Cushman & Wakefield ofArizona Inc. tells GlobeSt.com that he and Larry Downey were in theprocess of re-leasing the 21-year-old building when they found abuyer in the form of a locally based limited liability company,6225 Partners LLC. Joe Jackson of SASI represented the buyer.
The buyer intends to occupy a large portion of the building foradministrative offices for its medical-related group. Jacobsconfides the buyer is courting a prospect to take another sizablechunk.
The loss of several large tenants rather than a plethora ofsmall ones eroded occupancy. A 5,500-sf hit came in May whenEmployee Solutions filed a Chapter 7 bankruptcy, according toJacobs. The tenant roster still includes L. Roy Papp &Associates and DEI Professional Services.
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