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Rosemont Revisits Phoenix with $21M Office Buy

PHOENIX-After a lengthy absence from the market, the NM-based owner invests in a 176,800-square-foot, class A office building.

By Jennifer Duell Popovec | Updated on December 15, 2010

PHOENIX-After a lengthy absence from the market, Rosemont Realty has returned with the acquisition of Catalina Terraces, a 176,800-square-foot office building. The Santa Fe, NM-based investor bought the class A asset from Buchanan Street Partners, paying $20.75 million for the property, which is located at 7878 N. 16th Street.

A local CB Richard Ellis team led by Jim Fijan marketed the three-story, multi-tenant property. Fijan tells GlobeSt.com that Catalina Terraces received about 10 offers, all from private investors.

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