Robert Reisner picked up the Country Club Center at 501-505 W. 8th Ave. from Marc Barmazel, of San Raphael, CA after the seller decided to divest of the property because it no longer fit into his portfolio, Paul Boyle, senior vice president with Grubb & Ellis Co.'s investment sales division in Phoenix, tells GlobeSt.com. The single-story building, located near Country Club Drive and Broadway, also included a half-acre tract that might be developed with an 8,000-sf building.
Boyle said the property appealed to the buyer because of its solid cash flow and solid tenant base of small businesses, which includes a printing firm and sign company. Boyle and Rick Danis, also with Grubb & Ellis' investment group, negotiated the sale for the property owner. The seller was represented by Bo Warner with Les Larsen & Associates of Mesa.
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