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PHOENIX-The Kansas City-based Block Income Fund I LP has made its first acquisition in the Valley, paying $15.6 million for Phoenix Tech Center, a three-building, 143,425-sf office portfolio in the southeast submarket. The seller is Transwestern Phoenix Tech Center LLC, an investment arm of Houston-based Transwestern Commercial Services Inc.

“Block’s MO for this fund is to look for office assets with longer term leases and strong credit tenants,” says Christopher Walton, a senior associate with Grubb & Ellis Co.

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