Phoenix Investor Purchases 28,096 SF Multi-Tenant Offi ce Building for $3.1M
PHOENIX, AZ – June 27, 2013 – (RealEstateRama) — A local company, Creative Business Resources, Inc., paid $3.1 million, or $110.34 per square foot, for an offi ce building at 1500 E. Bethany Home Rd. in Phoenix for their new corporate headquarters.
The Class B, 28,096 SF, multi-tenant building sits on 1.89 acres and was built in 1983. It is located in a dynamic and up-and-coming area that includes amenities such as Z’tejas, Zipps, Lucy’s Healthy Marketplace, The Garage, Capriotti’s Sandwich Shop, YouFit Fitness Center and Phoenix City Grille. The building is in a prime location with immediate access to the Piestewa Freeway (SR 51).
Lee & Associates principals Mike McQuaid and Chris Krewson represented the buyer in the transaction. The seller was 1500 East Bethany Offi ce Building, LLC. Tom Alteri with MidFirst Bank provided the fi nancing for the deal.
About Lee & Associates Arizona
Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, offi ce, land and investment sectors of the Phoenix commercial real estate market. The Phoenix offi ce was established in 1991 and is now recognized as one of the most successful brokerage fi rms in the state. Each of the 48 nationwide Lee & Associates offi ces has a strong local ownership combined with a powerful platform from the national Lee & Associates network.
Contact:
Matt DePinto
Senior Research Analyst
Public Media Relations
ph: 602.474.9512
mdepinto (at) leearizona (dot) com
www.leearizona.com
