Search
 

CBRE Completes $51 Million Sale of Two Office Buildings

PHOENIX—CBRE left the new year having negotiated the sale of two premier class A office buildings in the Phoenix metro area for a total consideration of $51 million.

By Kristian Seemeyer | Updated on January 05, 2014

PHOENIX—CBRE left the new year behind having negotiated the sale of two premier class A office buildings in the Phoenix metro area for a total consideration of $51 million. The sale included the 175,186-square-foot building at 5090 N. 40th St. in Phoenix and the 152,081-square-foot Scottsdale Financial Center III located at 7272 E. Indian School Road in Scottsdale, for a combined 327,267 square foot investment. The buildings commanded sale prices of $26.35 million and $24.65 million, respectively.

Jim Fijan and Will Mast with CBRE’s Phoenix office brokered the transaction between Newport, Calif. based CJK Investments, who sold the building to a joint venture between Lowe Enterprises in Los Angeles and J.P. Morgan Asset Management.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.