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CHANDLER, AZ-Phoenix-based buyer Frank Senia has acquired a medical office building for $3 million in a 1031 Exchange.

The 9,908-sf Building B at 600 S. Dobson Rd., is 100% leased to medical tenants, including an imaging center operator and two dentists. The Chandler submarket where the building is located is one of the fastest growing areas in the Valley.

“It’s a stable investment,” says Pete Rich of Coldwell Banker Commercial Metro LLC who represented the seller, Windsor Chandler LLC, a local investment group. Bill Seifert, also of Coldwell Banker, partnered with Rich in the deal. Dale Dockins of North Bay Commercial represented the buyer. Rich tells GlobeSt.com that the asset sold at an 8% cap rate.

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