Commercial Properties, Inc/CORFAC International. (CPI), Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of over 61,800 square feet of investment deals located in Mesa, Arizona.
First, near Falcon Field in Mesa, Andy Jaffe and Rex Griswold recently closed on 3450 & 3519 N Higley Road, a 18,946 square foot office property which was built in 2005. Andy Jaffe and Rex Griswold represented the seller. Brandon Koplin of CPI represented the 1031 buyer, CRE Strategic Investment. Koplin commented, “My buyer was seeking a quick close scenario and this 100% leased opportunity was exactly what he was seeking in our market.” Griswold commented, “The owner worked efficiently to meet the time table for the 1031 buyer and was engaged proactively to help close the deal.”
CRE Strategic Investment acquired the property for $2.25 million (118.75 psf).
Second, on the Northeast corner of Main & Horne, Andy Jaffe and Rex Griswold represented the buyer, Outlaw 5, LLC., purchased a 23,427 square foot retail property at 819 E Main Street in Mesa. Jaffe commented, “This was a unique opportunity to help a client take an iconic bowling alley built in 1961 in Mesa and make it useful once more by converting it into a specialty auto parts store.”
Outlaw 5, LLC acquired the property for $900,000 ($38.40 psf).
Third, between Greenfield and Higley Roads, Seth Properties, LLC purchased a medical office condominium at 4838 E Baseline Road in the Commons at Pierpont in Mesa. Andy Jaffe and Rex Griswold represented the seller of the 19,455 former heart surgery center. Jaffe commented, “the fully built out surgery complex was equipped with 4 conference rooms, 30 offices, imaging and x-ray facilities with lead lined walls and 480 volt power. The whole complex was purchased by doctors, whose intention is for it to be divided into five different doctors’ offices.”
Seth Properties, LLC acquired the investment property for $1,865,000 ($95.86 psf)
Andy Jaffe
Andy Jaffe and Rex Griswold may be contacted for additional information at ajaffe@cpiaz.com and 480.522.2770 or rgriswold@cpiaz.com and 480.244.7222
Rex Griswold
About Commercial Properties Inc./CORFAC International
CPI is a CORFAC International affiliate, full-service Brokerage and Property Management firm for all product types. Headquartered in Tempe, the company has more than 50 brokers and occupies two offices locally. Currently, CPI’s listings include over 20 million square feet for sale/lease, and more than 180 projects under property management, totaling over 6.2 million square feet. Please visit our web site at www.cpiaz.com.