The Gill Group Inc. will put Gill Marketing Co.'s headquarters into 11,000 sf of Deer Valley Corporate Plaza, a recently delivered, two-story build-to-suit at 1904 W. Parkside Lane. ReachOut Healthcare America backed up the sale with a seven-year lease for its office, says Bruce Calfee, a senior vice president with Grubb & Ellis|BRE Commercial LLC. He, Marc Hertzberg and Josh Wyss represented the seller while Jim Watkins with Phoenix-based Lee & Associates Arizona brokered the buy side.
"ReachOut Healthcare America originally thought they would occupy the entire building, but a change in their business caused them to have some extra space," Calfee tells GlobeSt.com. He says ReachOut Healthcare America was prepared to lease the vacant space, but agreed to sell the building if the right price came along. The seller provides dental care and vision screenings for children and senior citizens via mobile clinics.
According to Calfee, Gill Group came in with a low-ball offer of $150 per sf, $35 per sf shy of the seller's quote. "The Gill Group came back and we were able to hammer out an offer," he adds. Racine, WI-based Johnson Bank provided acquisition financing.
Gill Marketing will move into the structure in September, according to Calfee. The subsidiary's existing lease for 6,000 sf expires in December at 7330 N. 16th St.
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