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.
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