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CO-Based Investor Shells Out $3.2 Mil for Part Ownership

PHOENIX-Diamante LLC, based in Colorado Springs, CO, has paid nearly $3.2 million for a partial interest in the upscale Pepper Ridge Plaza. GSW4 has sold its interest in about 20,000 sf of shop space for nearly $160 per sf.

By D.J. Burrough | Updated on June 04, 2001

PHOENIX-A Colorado Springs, CO-based real estate investment firm has paid nearly $3.2 million for a portion of a retail center in one of the most upscale portions of the Valley.

Diamante LLC, a Denver-based limited liability company headed by Janet Zajac-Spade, has bought into nearly 20,000 sf of shop space in Pepper Ridge Plaza, a neighborhood center at the southeast corner of Cave Creek Road and Union Hills Drive in northeast Phoenix. Phoenix-based GSW4, a limited partnership headed by Bruce Utterback, is the seller of the partial interest, which equates to more than $160 per sf.

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