Neil Sasinowski, of San Mateo, CA, took over ownership of the Third Street Professional Building at 3008 N. Third St. in a $2.3 million transaction that bought him a three-story, 32,175-sf medical office building. The multi-tenant building is 88% occupied.
In a separate deal, Sasinowski also purchased El Dorado Square, a 17,818-sf, two story, multi-tenant office complex located at 5320 N. 16th St. The building, which is 96% occupied, sold for $1.85 million.
The seller, Daryl Burton, of Phoenix, disposed of the buildings, both built in 1975, to invest in larger properties, Eric Wichterman, senior vice president with Grubb & Ellis tells GlobeSt.com. "Both have excellent parking and are in great physical condition," he said, adding that the investment appealed to the new owner because of their stable tenant base and good locations.
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