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Bidding War for 16,265-SF Building Tops Out at $1.5M

PHOENIX-In the end, Snell Family Investments won out with a promise to close within 10 days. "We picked between the two buyers based on who could move the fastest," says the broker in the deal.

By Bev Ford | Updated on November 19, 2002

PHOENIX-With the bids close, the winner of a 16,265 office property turned out to be the one who could close the quickest. Snell Family Investments won out with a $1.475 million offer and a promise to close within 10 days on the 2001 E. Campbell Ave. property.

“We picked between the two buyers based on who could move the fastest,” broker Eric Wichterman, with Grubb & Ellis, told GlobeSt.com. “We got them as far as they could go and then focused on how quick we could secure a deal with hard money and how quick we could get to a closing.”

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