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28,834-SF Professional Office Plaza Sells for $3M

PHOENIX-A California couple rolls the McDowell Professional Plaza into an office and retail portfolio that's on the verge of getting beefed up. The office complex was 95% leased at sale time with more deals on the way.

By Amy Wolff Sorter | Updated on August 09, 2005

PHOENIX-Mercury Trading Co. in Stuttgart, AZ has sold the 28,834-sf McDowell Professional Plaza to private investors from California for $3.4 million.

Eric Wichterman and Stan Shafer with Grubb & Ellis/BRE Commercial LLC in Phoenix brokered the deal for the seller of 1301 E. McDowell Rd. while Chris May with First Realty Associates, also in Phoenix, represented the buyers, Zack and Sue Saliba. May, owner of First Realty, tells GlobeSt.com that the property was already 95% occupied at the time of the sale, with two spaces empty–but not for long. “One’s currently in negotiation for leasing and the other is a small space that might be an office for the owners,” May says. “Also, a doctor has said he might want to use that space for expansion.”

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