PHOENIX—Dunbar Real Estate Investment Management announces the acquisition of Cabot Business Center located at 3802-3922 E. University Dr. The flex/R&D project consists of five separate buildings in the Sky Harbor Airport submarket.
Dunbar responded quickly to the opportunity to purchase for $9.2 million the 109,684-square-foot project in an off-market transaction, which includes tenants such as Thyssenkrupp, Carrier and many other companies. Dunbar plans to invest capital to improve the overall condition of the property as well as constructing spec suites, making the project even more appealing to the market.
Darren Tappen, Aric Adams and Mike Kasulaitis of Voit handled the transaction.
The transaction marks Dunbar's eighteenth acquisition over its first thirty-six months of operations of which nine have been completed on an all-cash basis. Dunbar is aggressively seeking value-add investment opportunities in Southern California and Phoenix
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
