Phoenix—Daum Commercial Real Estate Services has negotiated the all-cash, $21.6 million sale of a 145,000-square-foot flex-office showroom project located at 2851 W. Kathleen Rd. in the Deer Valley submarket.
Bob Lundstedt and Chris Rogers of Daum in Phoenix represented the seller, Intravest 2851 Kathleen LLC of Phoenix. The buyer, a subsidiary of Griffin Opportunities of Pacific Palisades was represented by Ben Prater of Colliers International of Sacramento.
The 9.55-acre property was developed in 1988 and is fully leased to Climatec, the largest privately-owned building technologies company in the nation. Climatec is a leading provider of advanced building technologies and energy solutions.
The flex-office building was renovated in 2009. This marks the first investment in the Valley for Griffin Opportunities and the largest transaction in the Deer Valley submarket this year.
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