X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-With the bids close, the winner of a 16,265 office property turned out to be the one who could close the quickest. Snell Family Investments won out with a $1.475 million offer and a promise to close within 10 days on the 2001 E. Campbell Ave. property.

“We picked between the two buyers based on who could move the fastest,” broker Eric Wichterman, with Grubb & Ellis, told GlobeSt.com. “We got them as far as they could go and then focused on how quick we could secure a deal with hard money and how quick we could get to a closing.”

That strategy paid off for seller Dennis and Christine Ryan, who unloaded the fully-leased office property near the Camelback Corridor in about 25 days.

Wichterman and Stan Shafer, both with Grubb & Ellis’ Investment Advisory Division, represented the seller in the transaction. The buyer was represented by Jon Deonise with Cueller Realty.

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?

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.