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Local Group Nabs Vacant Building for $2M

PHOENIX-A vacant building trades to a group of investors for $1.6 million. The buyer, a local physician, will occupy a portion of the building.

By Jennifer D. Duell | Updated on September 16, 2004

PHOENIX-A local investor group led by a physician acquired the 36th Street Office Building for $1.6 million. The 25,434-sf, two-story building, which has been completely vacant since the State of Arizona moved out several months ago, is located at 4440 North 36th St.near the Camelback Road Corridor.

“The buyer got a pretty good deal,” says Kevin Kopp, an associate with the local office of Lee & Associates who represented the seller, the Los Angeles-based Kline Family Partnership, along with Jan Fincham and Pat Dempsey. He points out that the building sold under market value at just $63 per sf.

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