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Three-Year Pursuit Wins 258,000-SF Business Park

PHOENIX-Michael A. Pollack Real Estate Investments pockets keys to West Thomas Business Park for $12.4 million. The local buyer stays with the chase for three years and suffers through a six-month escrow to claim the 12-building package.

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

PHOENIX-After chasing West Thomas Business Park for three years, Michael A. Pollack Real Estate Investments has finally claimed the 258,000-sf, multi-tenant property for $12.4 million. The locally based investor purchased the 12-building portfolio from Los Angeles-based Pacific Equity Partners.

“It was a must-have asset,” says Michael Pollack, president and founder of his namesake firm. “I love multi-tenant buildings and at $48 per sf, it was perfect. You couldn’t dream of building it for that today.” He tells GlobeSt.com that he will invest $500,000 into replacing roofs, resurfacing parking lots and updating the facade of the 16.2-acre park at 3104-32 W. Thomas Rd.

Pollack has renamed the 27-year-old property Pollack West Thomas Business Park. It offers a mix of incubator, industrial and retail/showroom space in buildings ranging from 18,000 sf to 42,000 sf.

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