PHOENIX-Boxer Property has made its first acquisition in Phoenix, paying $5.4 million for Lakeside Center, a two-building office property in the northwestern part of the city. The Houston-based investor bought the 152,600-square-foot, class B asset out of receivership from Trident Pacific Real Estate Group.

Boxer has been actively acquiring class B office properties with leasing upside. In 2010, for example, the firm bringing purchased 14 properties totaling 3 million square feet – its busiest buying year.

Lakeside Center is similar to Boxer’s recent acquisitions. Situated on 8.5 acres at 11223 and 11225 N 28th Dr., the office property was roughly 50% leased at the time of sale, according to the investment sales team with Cassidy Turley/BRE Commercial that marketed the deal. The team included: Eric Wichterman, Mike Coover, Bob Buckley, Tracy Cartledge, Steve Lindley, Gordon Raguse and Tom Jacobs.