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San Diego Buyer's $15M Wins EaglePicher HQ

PHOENIX-Falcon Real Estate, marking a second buy in the Valley, lays down $14.9 million in cash for a 103,667-sf, class A office building leased until 2016 to EaglePicher Technologies. Crown West Realty is the seller.

By Jennifer D. Duell | Updated on January 20, 2005

PHOENIX-Falcon Real Estate has made its second acquisition in the Valley, paying $14.9 million in cash for the 103,667-sf, class A office building that houses EaglePicher Technologies’ corporate headquarters.

The two-story building, sold by Spokane, WA-based Crown West Realty LLC, is fully leased to EaglePicher until 2016. The company moved into the building at 3402 E. University Dr. in Southbank Office Park, in early 2004.

“This is strictly a cash-flow investment with annual increases in rent,” says Bob Young, a first vice president with CB Richard Ellis Inc. who represented Crown West in the transaction. Steven Brabant, Glenn Smigiel, Rick Abraham and Joe Porter of CBRE’s Phoenix office also were involved in the deal.

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