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Westwood Business Park Sells for $7.4M

PHOENIX—In this week's Deal-Tracker, Cassidy Turley announces the $7.4 million sale of Westwood Business Park, a Class B office development at 2222-2228 West Northern Avenue in the Northwest Phoenix Submarket.

By Kristian Seemeyer | Updated on July 22, 2014

PHOENIX—In this week’s Deal-Tracker, Cassidy Turley announces the $7.4 million sale of Westwood Business Park, a Class B office development at 2222-2228 West Northern Avenue in the Northwest Phoenix Submarket. California-based LBK Trust III purchased the property from Nebraska-based MJA Holdings, LLC. Cassidy Turley executive managing director Eric Wichterman and senior vice president Mike Coover negotiated the transaction on behalf of the seller, while Edward Nelson of Marcus & Millichap represented the buyer. Built in 1981, Westwood Business Park is a 91,491 square foot office complex consisting of four two-story buildings on 5.4 acres. The property is located in the heart of North Central Phoenix west of 19th Avenue and Northern Avenue. The business park was 82% leased at the time of sale.

-PHOENIX–Cassidy Turley has completed a 10-year lease of 12,034 square feet for locally-based Arizona Urology Specialists PLLC at Country Club Manor, 1221-1313 E. Osborn Rd. in Phoenix. Senior vice president Gordon Raguse and vice president Chris Jantz of Cassidy Turley’s office group represented landlord Hyperion Fund LP, while David Heiple of Heiple Travers Realty represented the tenant. Arizona Urology Specialists is the largest provider of urologic services in Arizona. The new lease is part of a relocation and expansion for Arizona Urology Specialists. Built in 1987, Country Club Manor is a classic, two building two-story 89,214-square-foot, Class B office project on 4.58 acres. The property is centrally located in the Midtown Submarket at Osborn Road and 16th Street. The garden style office building is 81% leased with 16,927 square feet available and suites ranging from 1,144 square feet to 5,100 square feet.

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